Energy Future Holdings attorneys offered no date on a revised restructuring agreement, but say they’ll have a status update on July 18.
By JAMES OSBORNE Follow @osborneja
Staff Writer email@example.com
Published: 09 July 2014 08:50 PM
Updated: 09 July 2014 10:16 PM
Energy Future Holdings has called for a delay in hearings to determine the future of its power transmission subsidiary Oncor.
The struggling power company, which filed for bankruptcy in April, was warned by U.S. Bankruptcy Judge Christopher Sontchi last week that its arguments for giving control of Oncor to a group that includes Dallas-based Hunt Consolidated and the Texas teachers’ retirement fund were “fairly thin.”
In a filing Tuesday, EFH attorneys said they needed time to consult with creditors to figure out a way to restructure its $40 billion in debt that would satisfy the court.
EFH “remains committed to the value-added goals embodied in the [restructuring agreement] transactions and are working with their stakeholders to address the timing and form of these transactions,” the filing read.