On October 28, 2015, Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware issued an opinion denying the make-whole claims of the EFIH Second Lien Trustee in the Energy Future Holdings bankruptcy case. The opinion is the second such opinion in the EFH bankruptcy, with Judge Sontchi having previously denied the First Lien Trustee's make-whole claims in April. The rejection of the Second Lien Trustee’s argument for a make-whole is significant in that Judge Sontchi explicitly adopted the holding of Judge Drain in the S.D.N.Y Momentive case with respect to “premium, if any” language contained in the indenture. Read more.
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