Energy Future Holdings Corp. is running into strong headwinds as it tries speed up its schedule in its $42 billion Chapter 11 restructuring by seeking the court’s approval of its new plan.
Objections are stacking up from creditors that are pushing back against the Texas-based utility’s move to fast track its Chapter 11 case. A number of large creditors, including but not limited to UMB Bank, Contrarian Capital Management, Fidelity Management & Research Co., Bank of New York Mellon and Bank of New York Mellon Trust are involved in EFH’s Chapter 11 case in Delaware and recently challenged the new proposed accelerated plan that the Texas utility is seeking to have approved by the bankruptcy court.
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