Energy Future Holdings Proposes Ch. 11 Restructuring

Law360, Los Angeles (April 15, 2013, 9:29 PM EDT) -- Dallas-based electric utility company Energy Future Holdings Corp. has proposed a prepackaged Chapter 11 bankruptcy that would restructure approximately $32 billion in debt, according to the private equity-backed company's filing with the Securities and Exchange Commission on Monday.

The filing comes about a month after hedge fund Aurelius Capital Master Ltd. lodged a derivative suit against Energy Future Competitive Holdings Co.'s board of directors, seeking $725 million in unpaid interest on allegedly fraudulent loans following the electricity company's $43 billion leveraged buyout in 2007. Energy Future,...
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