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The public release Oct. 15 of three possible reorganization plans for Energy Future Holdings Corp. demonstrates little in the way of agreement by the company's creditors, making it unclear what form any eventual compromise might take ahead of an expected bankruptcy filing.
Energy Future Holdings disclosed as much in a Form 8-K, stating, "The companies, the equity holders, and the creditors have not reached agreement on the terms of any change in the companies' capital structure." Furthermore, according to the filing, principals for the regulated side of the business, Energy Future Intermediate Holding Co. LLC, are "currently not engaged in ongoing negotiations with the companies," though other creditors, including principals of the unregulated side of the business, Texas Competitive Electric Holdings Co. LLC, have agreed to continue negotiations.
Creditors for the company have been attempting to negotiate a prearranged bankruptcy plan prior to Nov. 1, when a $270 million coupon payment is due. The latest filing was disclosed as...