Enter your email address and start getting breaking law firm and legal news right now!
|Free Market Evaluation - Send us your resume and we will give you free feedback|
Energy Future Holdings, Apollo Global Management and Oaktree Capital Group Each Hold about $2.7 Billion in Claims View Count: 270
Bloomberg News has reported that Energy Future Holdings Corp. lenders Apollo Global Management LLC and Oaktree Capital Group LLC each hold about $2.7 billion in claims on the bankrupt company under a credit agreement that was struck with managers and with other creditors. Energy Future filed for bankruptcy April 29, listing $49.7 billion in liabilities.
According to a filing in U.S. Bankruptcy Court in Wilmington, Delaware, Centerbridge Capital Partners LP has $1.4 billion in claims. According to the filing, King Street Capital Management LP and Fortress Credit Opportunities Advisors LLC each have about $1 billion in claims, according to the filing.
More than a million consumers who use TXU Energy for their home electricity service have been receiving an odd notice in the mail concerning TXU’s corporate parent, Energy Future Holdings, which filed for Chapter 11 bankruptcy last month.
The notice, according to the Star Telegram, does not mention TXU Energy; it talks about filing “proofs of claim” in the Energy Future Holdings case. But as far as residential customers go, it’s largely “for informational purposes,” TXU Energy spokesman Juan Elizondo reported in an email on Tuesday.
“In a nutshell, there is absolutely no problem,” Juan Elizondo said, according to the Star Telegram. “Business continues as usual and we are honoring all customer contracts and commitments.”
If you would like more information about employment opportunities with Energy Future Holdings please click here.
Image credit: www.leveragedloan.comEnergy Future Holdings, Apollo Global Management and Oaktree Capital Group Each Hold about $2.7 Billion in Claims by Jaan
Tagged: Energy Future Holdings