Tags: bankruptcy | Energy Future | advisers | pay

Energy Future Seeks to Pay Advisers Without Regular Hearings

Monday, 19 May 2014 09:13 AM

Energy Future Holdings Corp. asked a bankruptcy judge to let it pay more than 100 consultants and litigators all of their requested fees during its reorganization without regular discussion in court.

The advisers shouldn’t have to file fee applications asking for approval of their charges because they don’t fit the category of other professional advisers who are involved in administration of the company, Energy Future said in a May 17 filing in U.S. Bankruptcy Court in Wilmington, Delaware.

The Dallas-based power provider said it was seeking prior approval for the payments to avoid possible “controversy” later and would first give a “reasonable” amount of time to creditors and the U.S. Justice Department to object to its plan.

Past payments would be disclosed in court about a month after each quarter ended, Energy Future said. The most essential consultants’ billing rates would be capped at an average of $150,000 a month.

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Energy Future Holdings Corp. asked a bankruptcy judge to let it pay more than 100 consultants and litigators all of their requested fees during its reorganization without regular discussion in court.
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2014-13-19
Monday, 19 May 2014 09:13 AM
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