Energy Future Holdings Corp. got the nod from a bankruptcy judge Thursday to sign a pact with creditors that pledged to support a path out of chapter 11, the Wall Street Journal reported today. Approval from Bankruptcy Judge Christopher Sontchi gets Energy Future over the first hurdle in a process that is designed to split the company in two, pay off creditors with equity or cash, and bring the company’s chapter 11 proceeding to a close. Energy Future’s chapter 11 exit proposal still faces a couple of rounds of court tests and a review by tax and energy regulators.
