Energy Future Wins More Time to Get Chapter 11 Plan Support

A U.S. bankruptcy judge on Monday granted Energy Future Holdings Corp. more time to round up support for its chapter 11 plan, as creditors and potential bidders circle its valuable transmissions unit, Oncor. The Wall Street Journal has the Daily Bankruptcy Review article here.

(Daily Bankruptcy Review is a daily newsletter with comprehensive coverage and analysis of emerging and in-progress insolvencies and turnarounds. For a two-week trial, visit http://on.wsj.com/DJBankruptcyNews, scroll to the bottom and click “try for free.”)

In a win for banks, the U.S.’s top court Monday ruled that underwater homeowners can’t get rid of a second mortgage by filing for bankruptcy protection, DBR reports in WSJ.

Stephen J. Lubben discusses the Supreme Court ruling via DealBook.

The trustee recovering money for victims of Bernard Madoff’s Ponzi scheme struck a deal with so-called feeder funds related to New York financier J. Ezra Merkin that will free up $35.4 million more for Mr. Madoff’s cheated investors, DBR reports in WSJ.

Oil-and-gas producer Samson Resources Corp. is in talks with creditors to take a loan or file for bankruptcy, WSJ reports.

WSJ reports on the restructuring plan filed by Puerto Rico’s electric power utility.

Credit Slips discusses the cross-border insolvency of Nortel Networks Corp. as “the CBI case of the century (so far).”

Write to Melanie Cohen at [email protected]. Follow her on Twitter at @MelanieLisa