Energy Future Holdings Corp. has sued to force the owner of 19.75 percent of its Oncor electricity-transmissions business to go along with a $12.2 billion deal designed to bail Energy Future out of bankruptcy, the Wall Street Journal reported today. Oncor, a cash-generating business that carries power to more than 3.2 million homes and businesses in Texas, is central to Energy Future’s chapter 11 exit proposal. It is set to be sold to an investment group led by Hunt Consolidated Inc., but minority stakeholder Texas Transmission Investment LLC is balking at the proposed sale. Energy Future on Monday asked a bankruptcy judge to enforce so-called drag-along rights in an agreement struck in 2008 after private-equity firms had taken over the Dallas energy giant, which was then called TXU Corp., in a debt-fueled deal.
