Energy Future Holdings Corp , Texas’ biggest power company, won U.S. court approval on Friday for a plan that will allow the bulk of its operations to exit Chapter 11 after two years of battling creditors.
“I am going to overrule all of the remaining objections, U.S. Bankruptcy Judge Christopher Sontchi said in court in Wilmington, Delaware. “I am prepared to confirm.”
Dallas-based Energy Future filed for bankruptcy in April 2014 when weak electricity prices left it unable to service $42 billion in debt, mostly related to the company’s creation through a 2007 leveraged buyout.
