Energy Future creditor committee allowed to hire financial adviser

By Kali Hays

New York, Oct. 20 – Energy Future Holdings Corp.’s official committee of unsecured creditors obtained approval to employ FTI Consulting, Inc. as its financial adviser, according to a Monday order from the U.S. Bankruptcy Court for the District of Delaware.

The hiring is retroactive to May 19.

As previously reported, FTI Consulting will provide the committee with assistance in gathering any necessary financial disclosures while assessing the liquidity of Energy Future, reviewing the company’s financial projections and corporate structure and attending meetings with potential investors and lenders.

FTI employees will be paid an hourly rate between $125 and $925.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.