Energy Future debtors’ plan OK’d by 12 of 16 voting creditor classes

By Caroline Salls

Pittsburgh, Dec. 2 – Energy Future Holdings Corp.’s Energy Future/EFIH debtors’ plan of reorganization was accepted by 12 of 16 creditor classes for which votes were received, according to a ballot summary filed Friday with the U.S. Bankruptcy Court for the District of Delaware.

Voting results by class included the following:

• A total of 69 holders, or 82.14% in number, of $490.64 million, or 88.93% in amount, of Energy Future Holdings legacy note claims voted to accept the plan, while 15 holders, or 17.86% in number, of $61.08 million, or 11.07% in amount, of those claims voted to reject it;

• All 25 holders of $2.63 million in Energy Future Holdings unexchanged notes claims voted to accept the plan;

• A total of 34 holders, or 94.44% in number, of $61.11 million, or 99.98% in amount, of Energy Future Holdings LBO note primary claims voted to accept the plan, while two holders, or 5.56% in number, of $11,252, or 0.02% in amount, of those claims voted to reject it;

• The one holder of $8.25 million in Energy Future Holdings swap claims voted to accept the plan;

• All 48 holders of $16.4 million in Energy Future Holdings non-qualified benefit claims voted to accept the plan;

• All 17 holders of $997,196 in Energy Future Holdings general unsecured claims voted to accept the plan;

• The one holder of $1.00 in EFH Renewables Co. LLC general unsecured claims against Energy Future debtors other than the holding company voted to accept the plan;

• The one holder of $1.00 in Generation Development Co. LLC general unsecured claims against Energy Future debtors other than the holding company voted to accept the plan;

• All nine holders of $14.79 million in TCEH settlement claims voted to accept the plan;

• A total of 25 holders, or 24.51% in number, of $95.72 million, or 4.24% in amount, of EFIH Finance Inc. first-lien note claims voted to accept the plan, while 77 holders, or 75.49% in number, of $2,159,776,702, or 95.76% in amount, of those claims voted to reject it;

• A total of 25 holders, or 24.51% in number, of $95.72 million, or 4.24% in amount, of Energy Future Intermediate Holding Co. LLC first-lien note claims voted to accept the plan, while 77 holders, or 75.49% in number, of $2,159,776,702, or 95.76% in amount, of those claims voted to reject it;

• A total of 76 holders, or 40.21% in number, of $1,007,545,599, or 48.34% in amount, of EFIH Finance Inc. second-lien note claims voted to accept the plan, while 113 holders, or 59.79% in number, of $1,076,593,418, or 51.66% in amount, of those claims voted to reject it;

• A total of 76 holders, or 40.21% in number, of $1,007,545,599, or 48.34% in amount, of Energy Future Intermediate Holding Co. LLC second-lien note claims voted to accept the plan, while 113 holders, or 59.79% in number, of $1,076,593,418, or 51.66% in amount, of those claims voted to reject it;

• A total of 34 holders, or 94.44% in number, of $61.11 million, or 99.98% in amount, of Energy Future Intermediate Holding Co. LLC LBO note guaranty claims voted to accept the plan, while two holders, or 5.56% in number, of $11,252, or 0.02% in amount, of those claims voted to reject it;

• A total of 120 holders, or 85.11% in number, of $1,413,092,865, or 91.61% in amount, of EFIH Finance Inc. general unsecured claims against the EFIH debtors voted to accept the plan, while 21 holders, or 14.79% in number, of $129.43 million, or 8.39% in amount, of those claims voted to reject it; and

• A total of 121 holders, or 85.21% in number, of $1,413,092,116,647, or 91.61% in amount, of Energy Future Intermediate Holding Co. LLC general unsecured claims against the EFIH debtors voted to accept the plan, while 21 holders, or 14.79% in number, of $129.43 million, or 8.39% in amount, of those claims voted to reject it.

Energy Future, a Dallas-based power generation company and utility operator, filed for bankruptcy on April 29, 2014. 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.