Restructuring

The Daily Docket: Energy Future Faces More Fire on Bankruptcy Financing Plan

05/16/14

Energy Future Holdings Corp.’s bid to revamp the balance sheet of one of its major divisions is taking more fire from investors the company would like to see sign on to the deal. Read the Daily Bankruptcy Review article here.

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Energy Future Paid Millions to Sidley Before Bankruptcy

05/15/14

New court papers show Sidley Austin LLP was the big earner among the professional firms grooming Energy Future Holdings Corp. as it headed toward a restructuring, raking in a $17.5 million retainer for representing the parent company that sits atop the beleaguered Texas power-selling conglomerate.

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The Daily Docket: Senior Energy Future Lenders Take Issue With Plan

05/15/14

Investors owning $1.7 billion or more in top-ranking debt say a $7.3 billion piece of Energy Future Holdings Corp.’s financing plan is a flawed and “incoherent” attempt to evade bankruptcy rules. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Bond Trustees Named to Energy Future’s Creditor Committee

05/14/14

Federal bankruptcy monitors have named seven creditors to the influential panel that will speak for unsecured creditors in the $42 billion bankruptcy of Energy Future Holdings Corp. Read the Daily Bankruptcy Review article here.

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The Daily Docket: Nortel Legal Teams Battle for Cash

05/13/14
Nathan Denette/Associated Press

With $7.3 billion up for grabs, Nortel's

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Energy Future Unsecured Creditors Form Ranks, Hire Morrison & Foerster

05/13/14

Morrison & Foerster won the plum job of representing the official committee of unsecured creditors in the Energy Future Holdings Corp. Chapter 11 case, one of the biggest bankruptcies on record.

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The Daily Docket: Investment Funds Buy Genco Stock

05/12/14

In the days following Genco Shipping & Trading Ltd. ‘s billion-dollar Chapter 11 filing, investment funds Aurelius Capital Partners and Och-Ziff Capital Management Group bought up stock in the dry bulk shipper, even though the stock is slated to be canceled in the restructuring and repaid very little. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Forward Motions: Cross-Border Nortel Trial Set To Begin

05/09/14

Monday, the historic Nortel Networks Corp. cross-border bankruptcy trial will begin in Wilmington, Del., and Toronto. Judges will decide how to divvy up $7.3 billion from the sale of patents and other assets between Nortel divisions in Canada, the United States and Europe.

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The Daily Docket: LightSquared Judge Won’t Approve Restructuring

05/09/14

A judge on Thursday said some of Dish Network Corp. Chairman Charlie Ergen’s nearly $1 billion in claims in the wireless venture’s bankruptcy case will be subordinated below those of other creditors. However, in a separate ruling, she refused to approve LightSquared’s restructuring, saying it is unfair to Mr. Ergen. The Wall Street Journal has the Daily Bankruptcy Review article here.

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Drone Defense Contractor: Bankruptcy Will Lead to Revival

05/08/14

A closed Tennessee defense contractor that trained U.S. military personnel to use aerial drones—and supplied one to filmmakers for “Captain Phillips,” which starred Tom Hanks—has filed for bankruptcy with a plan to revive itself.

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