Energy Future stalls motions to continue talks and respond to court

By Caroline Salls

Pittsburgh, July 9 – Energy Future Holdings Corp. indefinitely adjourned its Energy Future Intermediate Holding Co., LLC (EFIH) second-lien debtor-in-possession financing motion, EFIH settlement motion and restructuring support agreement assumption motion to continue discussions and respond to court observations, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

In addition to continuing discussions with creditors and third parties and responding to observations made by the court at a July 1 hearing, the company said it wants to address “postpetition developments potentially beneficial to the estates” with support agreement parties and others.

“The debtors remain committed to their value-maximizing goals embodied in the RSA transactions and are working with their stakeholders to address the timing and form of these transactions,” the adjournment notice said.

A hearing on the DIP loan and settlement motions had been scheduled for July 10 and July 11 and a hearing on the support agreement assumption for July 18.

The company said it will provide a status report at the July 18 hearing.

Energy Future, a Dallas-based power generation company and utility operator, filed bankruptcy on April 29. The Chapter 11 case number is 14-10979.

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