Uh-Oh.. Secured Lenders don't like EFH Making that Interest Payment (Nov 2013)Somervell County Salon-Glen Rose, Rainbow, Nemo, Glass....Texas


 

Uh-Oh.. Secured Lenders don't like EFH Making that Interest Payment (Nov 2013)
 


3 November 2013 at 8:43:36 AM
salon

from Bloomberg

The former TXU Corp. is making the distribution after creditors failed to agree on a reorganization plan before today’s payment deadline. The next key date comes in March when auditors may raise doubts about Energy Future’s ability to remain a going concern, which would trigger a default, said a person with knowledge of the Dallas-based company’s finances who asked not to be identified because the situation is private.

Energy Future, which was bought in 2007 for $48 billion by private-equity firms led by KKR & Co. betting on a boom in natural gas prices, came close to filing for bankruptcy before talks with creditors that included some of Wall Street’s leading investors on a restructuring fell apart yesterday. Secured lenders, who would be paid out first in a reorganization, didn’t want the interest payments made because the funds go to more junior creditors, raising the specter angry debt holders will break up the company, inducing a $2 billion tax liability.

 

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Comments

salon > Quick update on this, via Pacer-Click on pic to see larger (Turk Case Update- Telephone Conference Hearing Set for March 8 2019 )

salon > Lance Been awhile. Send me an email at salon@glenrose.net with the names of who you're talking about, above. Also, the newspaper editor is no longer local, ie officed here, but the paper is run.... (What Happened to Jerry Jacene? )

LanceHall > I'd love to see the Hotel Guest books and see if Jacene's name shows up long before he officially *found* the tracks.  I'd like to know if the Visitor's Bureau has emails wit.... (What Happened to Jerry Jacene? )

LanceHall > I see the land or that part of it is now in the hands of Glen Rose's own Corky Underwood. Is Jacene still involved?   I had already informed the Visitor Bureau manager (who's.... (What Happened to Jerry Jacene? )





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