Reuters – Energy Future Proposes Prepackaged Bankruptcy

Texas power company Energy Future Holdings, formerly known as TXU Corp, has proposed a prepackaged bankruptcy that would restructure $32 billion of debt, but no deal has been reached, writes Reuters. The company is trying to restructure more than $30 billion in debt it was saddled with after the buyout by a consortium including KKR & Co, TPG Capital Management and Goldman Sachs Group Inc‘s private equity arm, writes Reuters.