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Energy Future Holdings Re-Solicitation Sought

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Energy Future Holdings (EFH/EFIH) filed with the U.S. Bankruptcy Court a motion for entry of a supplemental order (a) binding holders of claims and interests to their prior ballots (other than holders of class B6 Claims), (b) approving the revised EFH/EFIH Disclosure Statement as containing adequate information and (c) approving the procedures and timeline for the limited re-solicitation of votes on the Plan by holders of Class B6 Claims.

The motion explains, “Following entry of the EFH/EFIH disclosure statement order, which established September 19, 2016 as the EFH/EFIH voting record date and November 15, 2016 as the voting deadline, the EFH/EFIH Debtors undertook and completed the Prior Plan solicitation….On November 17, 2016, just three weeks before the hearing to consider confirmation of the Prior Plan was scheduled to commence, the United States Court of Appeals for the Third Circuit issued an opinion regarding the Makewhole claims asserted by the holders of EFIH first lien notes and EFIH second lien notes. As a result of the various discussions that occurred since the Makewhole Opinion was issued, the Debtors made certain limited modifications to the Prior Plan and revised the Prior Disclosure Statement to include a description of the Makewhole Opinion and the resulting changes to the terms of the Prior Plan.”

The motion continues, “The EFH/EFIH Debtors believe that the narrow changes made to the Plan after the Debtors completed the Prior Plan solicitation require a re-solicitation of acceptances or rejections of the Plan only from Holders of Class B6 claims. Because the changes to the Prior Plan do not impact Holders of Claims and Interests in any Class other than Class B6, the Debtors do not believe a re-solicitation of any other Class is necessary or required.” The Court scheduled a January 4, 2017 hearing to consider the re-solicitation motion, with objections due by December 28, 2016.

Read more EFH bankruptcy news.

 

The post Energy Future Holdings Re-Solicitation Sought appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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