IN RE ENERGY FUTURE HOLDINGS CORP.

No. 19-3492.

990 F.3d 728 (2021)

IN RE: ENERGY FUTURE HOLDINGS CORP., aka TXU Corp.; aka TXU Corp; aka Texas Utilities, et al., Debtors. NextEra Energy, Inc., Appellant.

United States Court of Appeals, Third Circuit.

Filed: March 15, 2021.


Attorney(s) appearing for the Case

James P. Bonner , [ARGUED], Joshua D. Glatter , Fleischman Bonner & Rocco, 447 Springfield Avenue, 2nd Floor, Summit, NJ 07901, Keith M. Fleischman , Fleischman Bonner & Rocco, 81 Main Street, Suite 515, White Plains, NY 10601, Matthew B. McGuire , Landis Rath & Cobb, 919 Market Street, Suite 1800, P.O. Box 2087, Wilmington, DE 19801, Counsel for Appellant NextEra Energy Inc.

Daniel G. Egan , Gregg M. Galardi , [ARGUED], Ropes & Gray, 1211 Avenue of the Americas, New York, NY 10036, Jonathan R. Ference-Burke , Douglas H. Hallward-Driemeier , Ropes & Gray, 2009 Pennsylvania Avenue, N.W., Suite 1200, Washington, DC 20006, Counsel for Appellees Elliott Associates LP, Elliott International LP, Liverpool Limited Partnership, UMB Bank NA.

Daniel J. DeFranceschi , Jason M. Madron , Richards Layton & Finger, 920 North King Street, One Rodney Square, Wilmington, DE 19801, Mark E. McKane , [ARGUED], Kirkland & Ellis, 555 California Street, Suite 2700, San Francisco, CA 94104, Counsel for Appellee EFH Plan Administrator Board.

Before: KRAUSE, PHIPPS, Circuit Judges, and BEETLESTONE, District Judge.


OPINION

This case arises from the bankruptcy of Energy Future Holdings and its affiliates ("EFH" or "Debtors"). The Debtors' most valuable asset was a significant economic interest in Texas' largest electric and power transmission and distribution company, which...

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