Special counsel Ben Feder
authored the Law360
article “EFH Highlights Pitfalls For Large-Enterprise Fiduciaries.” Ben discusses Energy Future Holdings’ Chapter 11 bankruptcy and complex recovery process. EFH, its secured and unsecured creditors, and private equity sponsors have had difficulty developing a reorganization plan that will not trigger tax liabilities due to the structuring of the leverage buyout transaction that made the corporation private in 2007. After contemplating a restructuring support agreement and bidding procedural consolidation, EFH announced late in November that settlement conferences involving all major creditor constituencies were transpiring.