EFH Ch. 11 Exit Push Ends First Week With More Plan Praise
November 6, 2015
Law 360By Matt Chiappardi
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.
To view the full article, click here.