December 1, 2016 / 8:41 PM / a year ago

Energy Future bankruptcy exit hearings set for February

WILMINGTON, Del, Dec 1 (Reuters) - Texas power company Energy Future Holdings Corp will start hearings in February to confirm its Chapter 11 bankruptcy exit plan and its proposed sale of its powerlines business to NextEra Energy Inc for $18.6 billion, a judge said on Thursday.

Those hearings had been scheduled to begin on Thursday, but were postponed after the U.S. 3rd Circuit Court of Appeals ruled last month that the company owed holders of its first-lien and second-lien notes about $800 million more than anticipated.

The company’s plan is based on a sale of its main asset, its stake in the Oncor powerlines business, to NextEra Energy of Juno Beach, Florida. (Reporting by Tom Hals in Wilmington, Delaware; Editing by David Gregorio)

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