March 31 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)