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Energy Future granted closure of TCEH subsidiary cases to save on fees
By Caroline Salls
Pittsburgh, Nov. 3 – Energy Future Holdings Corp. obtained approval from the U.S. Bankruptcy Court for the District of Delaware for the closure of the Chapter 11 cases of Energy Future Competitive Holdings Co., LLC (EFCH) and the direct and indirect subsidiaries of Texas Competitive Electric Holdings Co. LLC (TCEH), according to an order filed Friday.
Energy Future said it asked the court to leave the lead TCEH case open for the purposes of resolving outstanding matters against the closing cases and transferring all claims against, and interests asserted in, the TCEH debtors to the lead case.
As previously reported, the TCEH debtors’ plan of reorganization was confirmed on Aug. 29, 2016. The plan took effect on Oct. 3, 2016.
According to the motion, the reorganized TCEH debtors file reports each quarter on account of the closing cases and are charged between $325 and $30,000 in U.S. Trustee fees per entity each quarter based on the entities’ level of cash disbursements.
“There are no outstanding matters related to the closing cases other than the unresolved proofs of claim,” the motion said.
“Closure of such cases will allow the debtors to avoid unnecessarily incurring further U.S. Trustee fees.”
As a result, the debtors are looking to transfer to the TCEH lead case 5,156 asbestos proofs of claim and nine non-asbestos proofs of claim, “thus enabling the debtors to close cases that remain open unnecessarily, saving time and resources.”
Energy Future is a Dallas-based power generation company and utility operator. The company filed for bankruptcy on April 29, 2014. The Chapter 11 case number is 14-10979.
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