Energy Future Holdings filed with the U.S. Bankruptcy Court a Fifth Amended Joint Plan of Reorganization and related Disclosure Statement, as it applies to the EFH Debtors and EFIH Debtors.
The Disclosure Statement notes, “Specifically, the Plan was amended to reflect the following key changes: The condition precedent to consummation of the Plan requiring the EFIH First Lien Makewhole Claims and EFIH Second Lien Makewhole Claims to be Disallowed Makewhole Claims is eliminated. As set forth in Article III.B.19 and Article III.B.20 of the Plan, the EFIH First Lien Notes Trustee and EFIH Second Lien Notes Trustee will be granted Liens on the EFH/EFIH Distribution Account, up to the asserted amount of their respective Makewhole Claims. Such Liens will survive for the benefit of the respective Indenture Trustee until such time their respective Makewhole Claim has either been (a) Allowed, and paid in full, in Cash from the EFH/EFIH Distribution Account or (b) disallowed by Final Order. The Lien will not extend to the value of any EFH cash included in the EFH/EFIH Distribution Account….The Plan constitutes a separate plan of reorganization for each of the Debtors.”
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