Energy Future Owes $725M After $43B Buyout, Fund Says

Law360, San Francisco (March 19, 2013, 10:18 PM EDT) -- Hedge fund Aurelius Capital Master Ltd. lodged a derivative suit against Energy Future Competitive Holdings Co.'s board of directors Tuesday in Texas federal court, seeking $725 million in unpaid interest on allegedly fraudulent loans following the electricity company's $43 billion leveraged buyout in 2007.

Texas electricity supplier TXU Corp. was taken private in what was billed the largest leveraged buyout in U.S. history, later changing its name to Energy Future Holdings Co., according to the suit. The deal was financed in part by a $24.5 billion...
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Case Title

Aurelius Capital Master, Ltd. et al v. Acosta et al


Case Number

3:13-cv-01173

Court

Texas Northern

Nature of Suit

Contract: Other Contract

Judge

Jorge A Solis

Date Filed

March 19, 2013

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