EFH Ch. 11 Exit Push Ends First Week With More Plan Praise
November 6, 2015
Law 360
Types : In the News
Law360, Wilmington (November 6, 2015, 10:00 PM ET) — Another member of Energy Future Holdings Corp.’s
leadership trumpeted the Chapter 11 plan to rework $42 billion in debt
Friday, saying it got a difficult creditor constituency on board for the
restructuring strategy, as the confirmation hearing for one of the
largest bankruptcies ever closed its first week.
[…]
“The debtor is trying to make it appear the decisions were being made
in-house. There is important evidence to the contrary,” E-side attorney
Sidney S. Liebesman of Montgomery McCracken Walker & Rhoads LLP said while cross-examining Smidt, who is also a partner at KKR & Co.
LP, one of the private equity firms that acquired EFH in a 2007
leveraged buyout and has several seats on the power giant’s board.
[…]
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