Bankrupt Energy Future Holdings’ novel plan to sell itself through a loan provision has Texas’s largest power company in hot water with creditors, who accuse it of trying to skirt a public sale process and hiding its true value.
The company and its creditors are heading for a courtroom showdown on Monday when Energy Future will seek a judge’s approval to take on a $2 billion loan that would give a group of hedge fund lenders 60 percent of the company when it emerges from its $48 billion bankruptcy.
Keep reading at Reuters.
Is a policy analyst consultant for TCAP, a coalition of political subdivisions in Texas that purchase electricity in the deregulated market for their own governmental use. Because energy costs are typically a significant budget item to our members, TCAP is consistently looking for ways to save our members money, through cost-saving contracts, energy efficiency or demand response programs.