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EFH Bankruptcy Supplement Filed

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Energy Future Holdings (EFH) filed with the U.S. Bankruptcy Court a first amended Supplement to the First Amended Joint Chapter 11 Plan of Reorganization of EFH/Energy Future Intermediate Holding (EFIH). The Supplement contains the following documents: Exhibit A – amended retained causes of action; Exhibit B: amended tax contingency disclosure; Exhibit C: EFH Plan administrator trust agreement; Exhibit D: merger agreement amendment No. 1: waiver agreement and Exhibit E: merger agreement amendment No. 2: settlement agreement.

The second amendment in the merger and settlement agreement notes, “The EFH Plan Administrator Board shall distribute the amounts from the Accessible Account Deposit in accordance with the Plan of Reorganization. For the avoidance of doubt, the EFH Plan Administrator Board shall be entitled to create such sub-accounts in the EFH/EFIH Cash Distribution Account as necessary to consummate the transactions contemplated by the Plan of Reorganization. ‘Cash Deposit Amount’ shall mean $9,450,000,000, less the DIP Repayment; provided, that the Cash Deposit Amount shall be reduced in accordance with Section 1.8. In no event shall the amount deposited by Merger Sub pursuant to Section 1.7(a), plus the DIP Repayment, plus the value of the Trust Certificates issued pursuant to Section 1.8, exceed $9,450,000,000.”

Read more EFH bankruptcy news.

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