Energy Future Holdings Corp. has asked court permission to start paying down some of its debt as it moves ahead in discussions with creditors to formulate a chapter 11 exit plan, Dow Jones Daily Bankruptcy Review reported today. The proposed payoff of as much as $750 million against a $2.15 billion issue of bonds involves debt linked to the division that owns a majority stake in Oncor, a valuable Texas transmissions business. The Oncor stake is going up for auction, and "it is almost certain" that investors have more than enough collateral to secured the debt of the division, Energy Future Intermediate, company lawyers wrote.
