EFH Bankruptcy Objections Filed


Multiple parties – including Elliott Associates, Elliott International and The Liverpool Limited Partnership (collectively, Elliott Funds) UMB Bank and Sunrise Partners Limited Partnership – filed with the U.S. Bankruptcy Court separate objections to Energy Future Holdings’ (EFH)/Energy Future Intermediate Holdings’ (EFIH) motion for entry of an order scheduling certain hearing dates and deadlines and establishing certain protocols in connection with confirmation of the Joint Plan of Reorganization.

Elliott Funds asserts, “By the Motion to Adjourn, Elliott requests that the Court temporarily delay consideration of the proposed sale transaction with Berkshire Hathaway Energy Company to provide Elliott – the Debtors’ largest unsecured creditor – until early September to raise capital and equity financing commitments for a value-maximizing equitization plan. Specifically, in the Motion to Adjourn, Elliott requests that the Court adjourn the hearing on the Berkshire Merger Agreement Motion and approval of the $270 million termination fee that is currently scheduled for August 10, 2017 for 35 to 40 days.”

In addition, “By this Objection, Elliott similarly requests that the Court deny the Debtors’ request for an August 11, 2017 hearing on the disclosure statement (the ‘Berkshire Disclosure Statement’) with respect to the Debtors’ plan of reorganization incorporating the proposed Berkshire Merger Agreement (the ‘Berkshire Plan’) and instead schedule the Berkshire Disclosure Statement hearing on the same day as, or a day following, the requested adjourned hearing on the Berkshire Merger Agreement Motion.”

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