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Energy Future Holdings Bankruptcy Compromise Approved

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The U.S. Bankruptcy Court approved Energy Future Holdings’ compromise and entry into and performance under a stipulation between Energy Future Holdings (EFH) and Citigroup Financial Products (Citi).

As previously reported, “By this motion, the Debtors seek entry of the order authorizing EFH to enter into and perform under the Stipulation. The Court’s approval of the stipulation will authorize: (a) Citi to receive a valid and enforceable general unsecured claim against EFH in the amount of $8,101,850, which will receive the treatment provided to Claims against EFH that are derived from or based upon swaps entered into by EFH on an unsecured basis, and (b) the mutual release of all claims relating to the Hedging Agreements, any transactions entered thereunder, the Filed Claim, or the negotiation, execution, performance or any breaches of any of the foregoing.”

Read more EFH bankruptcy news.