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Energy Future Holdings Mediation Denied

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The U.S. Bankruptcy Court issued an order denying Contrarian Capital Management’s motion for entry of an order directing Energy Future Holdings (EFH) parties to mediate certain issues related to the Company’s Second Amended Joint Plan of Reorganization.

As previously reported, Contrarian Capital Management had argued, “The T-Side confirmation hearing approaches, the disputed issues dividing the E-Side and T-Side estates have not been resolved. As highlighted at the hearing to consider the T-Side Disclosure Statement, the T-Side plan seeks to use valuable assets owned by EFH for no consideration. These assets include EFH’s tax attributes and shared services to be provided by EFH. Although Contrarian and Fidelity Management and Research Co. have attempted to start a settlement dialogue–at the purported invitation of the TCEH First Lien group–there have not been any meaningful settlement negotiations to date. Thus, to avoid the time, expense and delay of a hotly contested plan confirmation hearing; Contrarian respectfully submits that the Court should compel the parties to mediate their outstanding disputes.”

Read more EFH bankruptcy news.

The post Energy Future Holdings Mediation Denied appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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