Energy Future extends restructuring talks

Reuters

March 31 (Reuters) - Energy Future Holdings said on Monday it has extended a deadline to file its annual report, giving the company more time to negotiate with creditors as it seeks an agreement to reduce its crushing debt.

The former TXU Corp was expected to report on Monday that its auditor had determined it could not survive as a going concern, a finding that would have triggered a default on its loans and a likely bankruptcy filing.

In a statement on Monday, the company said it has extended that deadline, but did not say for how long. It added that it will miss an interest payment due on Tuesday, but has a grace period in which to make the payments before a default.

(Reporting by Nick Brown in New York and Tom Hals in Wilmington, Delaware. Editing by Andre Grenon)

View Comments (0)

Recommended for You