Luminant Buys Two NextEra Power Plants

NextEra Energy Inc. said Friday it has agreed to sell two Texas natural gas power plants to Energy Future Holdings Corp.’s Luminant unit for $1.59 billion. Read the story in The Wall Street Journal.

(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.”)

A federal judge ruled that TelexFree LLC ran a vast pyramid scheme that ensnared investors around the world, a finding that has been widely anticipated since the company collapsed into chapter 11 protection last year. Read the Daily Bankruptcy Review story via WSJ.

Abengoa SA’s chief executive resigned Friday as the embattled Spanish renewable energy and engineering firm begins to negotiate with creditors, the Journal reports.

BlackRock Inc. and Sothic Capital Management are leading the group of Abengoa SA bondholders that hired Houlihan Lokey Inc. and Clifford Chance to help them negotiate debt talks, Bloomberg reports.

The bankrupt operating unit of Caesars Entertainment Corp. has appealed a ruling that would enforce payments of nearly $364 million in pension liabilities, according to Reuters.

50 Cent owes Lastonia Leviston millions for releasing her sex tape, and she’s upset his bankruptcy lawyers are racking up huge expenses, TMZ reports.

Write to Patrick Fitzgerald at [email protected]. Follow him on Twitter at @PatFitzgerald23