Energy Future Said Closer to Deal That Speeds Bankruptcy

Six years after a record $48 billion buyout left Energy Future Holdings Corp. with debt it couldn’t repay, the power producer formerly known as TXU Corp. is closing in on a last-minute plan to speed its bankruptcy reorganization.

The Dallas-based company’s board of directors is meeting today after loan holders who walked away from talks in October rejoined negotiations, according to two people with knowledge of the meetings. The October discussions were an attempt to come up with a pre-arranged Chapter 11 blueprint.