In another article from today's DMN, another aspect of the bankruptcy popped up.

Even with court approval, the breakup of Energy Future has some ways to go. The deal is predicated on creditors not incurring a tax bill that could potentially run into the billions. The Internal Revenue Service is reviewing whether the transfer of assets to creditors represents a taxable sale, a decision that is not expected until next year.

At the same time, Hunt Consolidated has filed an application with the Texas Public Utility Commission to take over Oncor. What might have been a routine review has been complicated by the Hunts’ plan to convert Oncor into a real estate investment trust, a corporate structure that shifts tax liability away from the company to shareholders.