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Energy Future, subsidiaries auction set for May 21 to settle CDS
By Susanna Moon
Chicago, May 15 - The International Swaps and Derivatives Association, Inc. said an auction will be held on May 21 to settle credit derivative trades for Energy Future Holdings Corp., Texas Competitive Electric Holdings Co. LLC, Energy Future Intermediate Holding Co. LLC and EFIH Finance Inc.
The ISDA's Americas credit derivatives determinations committee resolved that a bankruptcy credit event occurred for Energy Future and its subsidiaries, as reported on April 30.
As previously reported, Energy Future Holdings, a Dallas-based power generation company and utility operator, made a pre-packaged Chapter 11 bankruptcy filing on Tuesday in the U.S. Bankruptcy Court for the District of Delaware.
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