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Energy Future statement hearing July 20; mediation terms set by court
By Caroline Salls
Pittsburgh, May 19 – The judge for Energy Future Holdings Corp.’s Chapter 11 proceedings set mediation terms and a schedule related to approval of the disclosure statement for Energy Future debtors’ Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the District of Delaware.
The disclosure statement hearing will begin on July 20. Judge Christopher S. Sontchi said in the order that the hearing can last no more than seven hours.
“The court strongly encourages the parties to resolve all objections to the disclosure statement before the hearing on the disclosure statement and strongly discourages the parties from pursuing expensive, time-consuming and unnecessary discovery or litigation regarding the adequacy of the disclosure statement,” the order said.
The debtors were ordered to meet with the parties who filed objections and responses to a proposed schedule governing confirmation of the plan and submit a proposed schedule by June 18. The court is expected to consider the schedule at a June 25 status conference.
In addition, Sontchi ordered plan mediation to begin on May 18 and end by July 20. Peter L. Borowitz was appointed as mediator.
The mediation will cover the terms of the plan related to the restructuring of the TCEH debtors’ estates and the treatment of claims held by the mediation parties against the TCEH debtors’ estates.
The TCEH debtors include Energy Future Competitive Holdings Co., LLC and Texas Competitive Electric Holdings Co., LLC, as well as their subsidiaries.
The results of the mediation will be non-binding.
Energy Future, a Dallas-based power generation company and utility operator, filed bankruptcy on April 29, 2014. The Chapter 11 case number is 14-10979.
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