Deals
Energy Future Offers New Reorganization Plan Amid Deal Dispute
- Proposal to sell Oncor unit to Hunt Consolidated in jeopardy
- Energy Future says Hunt deal rejected by senior creditors
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Energy Future Holdings Corp. wants to replace a court-approved reorganization plan that would sell its most-profitable business to a group led by Hunt Consolidated Inc. because a key deadline for that proposal has expired.
In a rare, Sunday-morning court filing, EFH asked the judge overseeing its record-breaking bankruptcy for permission to replace a plan that had been hailed as a breakthrough just five months ago, when warring groups of hedge funds settled their dispute about how to divide the company’s assets. EFH offered a new organization proposal in the filing.