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EFH Creditors Slam $270M Breakup Fee In $9.1B Berkshire Bid

Law360, Wilmington (August 9, 2017, 7:52 PM EDT) -- A trio of Energy Future Holdings Corp. creditors objected Wednesday to details in a proposed $270 million termination fee if a $9.1 billion sale to Berkshire Hathaway Energy Co. fizzles, with the size of the breakup expense a common target.

EFH’s official unsecured creditors, indenture trustee and Elliott Management Corp. funds — the bankrupt company’s largest unsecured creditor — all took aim at the fee, with Elliott making it part of a larger objection to the entire Berkshire deal.

Bankruptcy Judge Christopher S. Sontchi acknowledged Elliott’s...
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