Advertisement

Energy Future Holdings Plan, Supplement Filed

Advertisement

According to the U.S. Bankruptcy Court docket, Energy Future Holdings filed a Sixth Amended Joint Plan of Reorganization.

Plan documents note, “On the Effective Date, the Debtors or the Reorganized Debtors, as applicable, will effectuate the Restructuring Transactions, and will take any actions as may be necessary or advisable to effect a corporate restructuring of their respective businesses or a corporate restructuring of the overall corporate structure of the Debtors, to the extent provided therein.”

Plan documents continue, “The TCEH Debtors will undertake the Spin-Off, as follows: (a) on or prior to the Effective Date, TCEH will form Reorganized TCEH; (b) on the Effective Date, except for liabilities assumed by Reorganized TCEH pursuant to the Plan, all other Claims against the TCEH Debtors will be cancelled, and each Holder of an Allowed Claim against a TCEH Debtor will have the right to receive its recovery in accordance with the terms of the Plan; and TCEH shall assume the obligations of its subsidiaries that are TCEH Debtors to make distributions pursuant to and in accordance with the Plan that are to be made after the Effective Date; (c) immediately following such cancelation, pursuant to the Separation Agreement, TCEH and the EFH Debtors will make the Contribution to Reorganized TCEH, in exchange for which TCEH shall receive 100% of the (i) Reorganized TCEH membership interests and (ii) the net Cash proceeds of the New Reorganized TCEH Debt.”

The Company also filed with the Court a Supplement to its Sixth Amended Plan of Reorganization. The Supplement contains the following documents: Exhibit A: amended list of executory contracts and unexpired leases to be assumed by reorganized Debtors on the effective date; Exhibit B: comparison of amended list of executory contracts and unexpired leases to be assumed by reorganized Debtors on the effective date; Exhibit C: amended list of executory contracts and unexpired leases to be rejected by reorganized Debtors on the effective date; Exhibit D: comparison of amended list of executory contracts and unexpired leases to be rejected by reorganized Debtors on the effective date; Exhibit E: amended list of executory contracts and unexpired leases to be conditionally assumed by reorganized Debtors on the effective date; Exhibit F: comparison of amended list of executory contracts and unexpired leases to be conditionally assumed by reorganized Debtors on the effective date and Exhibit G: form of pension backstop agreement.

Read more EFH bankruptcy news.