Energy Future Postpones Hearing on Restructuring Agreement
Reuters reported that an attorney for bankrupt Energy Future Holdings told a court hearing that it will delay seeking court approval of a restructuring support agreement that lays a path out of Chapter 11.
According to Reuters, at the start of a hearing on a request to move the bankruptcy case to Dallas from Wilmington, DE, Kirland & Ellis partner Edward Sassower said Energy Future will postpone to June 30 from June 6 a hearing to approve its restructuring support agreement.
Reuters said the agreement commits the company to meet certain milestones on its way to slash its $42 billion in debt. Creditors wanted more time to study the deal, Reuters notes.
To read the entire Reuters report, click here.
Previously on abfjournal: WSJ: Energy Future Launches Financing Effort, May 8, 2014