Delaware Bankruptcy Court Grants EFH Relief Motions In Chapter 11 Filing
May 6, 2014
Energy Future Holdings (EFH) announced that the U.S. Bankruptcy Court for the District of Delaware has granted the relief requested by the company in motions filed in conjunction with its Chapter 11 bankruptcy filing. Among other things, the court granted the company’s requests to continue to pay and provide benefits to employees; make qualified retirement plan payments and provide medical benefits to retirees; honor all retail customer agreements; and pay vendors, suppliers, and trading counterparties in the normal manner for all goods and services provided on or after the April 29 filing date. The court also granted interim approval for the company to access $2.33 billion of its new $4.475 billion in debtor-in-possession financing for Texas Competitive Electric Holdings Company (TCEH). The new financing will help TCEH support normal business operations during the bankruptcy process.