It took three courtrooms to accommodate the lawyers, advisers and observers gathered for the first hearing in Energy Future Holdings Corp.’s bankruptcy in Wilmington, Delaware.
Energy Future Holdings Corp.’s unsecured bonds are soaring to the highest level in a year as junior creditors challenge the power producer’s plan to restructure about $40 billion of debt in bankruptcy.
The judge overseeing Energy Future Holdings Corp.’s bankruptcy limited the ways lower-ranking creditors can attack a proposed deal to turn the company’s main operating unit over to senior lenders.
"The debtors' record on these particular issues thus far is fairly thin and is going to need more evidence to satisfy the court."
- Christopher Sontchi on Jul 18, 2014