Creditors of Energy Future Holdings will meet this week to discuss strategies for restructuring the fraught power giant, but they are still a long way from a deal, Reuters reported yesterday. The Texas utility has been trying to cut a deal with secured lenders before filing for bankruptcy, which it is expected to do before year's end as it faces $40 billion in debt and a looming Nov. 1 interest payment. But the lenders have insisted that any deal must also address the debt at its regulated power delivery business, meaning unsecured bondholders of that unit have to be part of the talks. While meetings are scheduled this week between secured lenders and unsecured bondholders of the delivery business, the sides remain at odds over how they would divide up the company's equity after bankruptcy.
