EFH Has Few Good Options After Big Bet On Oncor Deal Sours

Law360, Wilmington (April 29, 2016, 11:19 PM EDT) -- Energy Future Holdings Corp. has few immediate options to regroup after its innovative $20 billion gamble to reorganize its electricity transmission unit Oncor into a real estate investment trust appears to be history, leaving the mega-Chapter 11 in a state of costly and uncomfortable uncertainty, experts say.

When EFH told the Delaware bankruptcy court Thursday that the deal at the heart of its hard-fought Chapter 11 plan was dead over conditions Texas regulators had put on approval of the transaction, it shifted a case that seemed to be on an orderly march to a bankruptcy exit into apparent disarray.

The complex...

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