We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Lenders In $25B EFH Loan Row Get No Priority, 3rd Circ. Says

Law360 (August 8, 2018, 5:16 PM EDT) -- The Third Circuit on Tuesday found Marathon Asset Management LP and several Polygon Global Partners funds do not have a priority claim on the $1.25 billion remainder of a $24.5 billion loan in the Energy Future Holdings Corp. bankruptcy.

In a nonprecedential decision, a three-judge panel denied Marathon and Polygon's appeal of the district court's dismissal of their suit against other EFH lenders who together extended credit to the power giant's former operational subsidiary Texas Competitive Electric Holdings Co. LLC., saying the loan agreement clause they...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.