Energy Future Holdings Corp., which has fought creditors over a proposed refinancing since its April bankruptcy filing, was sued by a trustee demanding a payment for holders of $2.2 billion in notes, Bloomberg News reported yesterday. Computershare Trust Co., the trustee, said Dallas-based Energy Future owes the junior lenders compensation for buying back the high-interest securities early, according to a court filing yesterday. The trustee accused Energy Future of trying to pull off in bankruptcy “what it could not accomplish outside of bankruptcy — refinancing the second-lien notes at lower interest rates without paying the redemption premium.” Energy Future is trying to exchange costly loans for lower-interest borrowings under an agreement struck with some creditors to reduce the debt load from its record $48 billion leveraged buyout in 2007. Creditors who didn’t sign up for the deal are fighting over special payments going to those that did, as well as redemption fees that they say they are due.
