Judge delays Oncor bidding in Energy Future Holdings bankruptcy

Enlarge Photo

Lance Murray

These Oncor power lines run through southern Denton and northern Tarrant counties.

6 photos

Home of the Day

Sponsor Listing

The initial round of bidding for Energy Future Holdings Corp.'s Oncor electric distribution company has been delayed by a federal judge.

The first bids were due Oct. 23, Bloomberg said.

Bloomberg reported that U.S. Bankruptcy Judge Christopher Sontchi said he wants to hear from more creditors before the sale process begins.

Sontchi set a fourth day of hearings for Oct. 23 and said he will decide later when the actual bidding should start, Bloomberg reported.

Oncor went on the auction block after takeover bids valued at more than $17.5 billion came from a group including Morgan Stanley and NextEra Energy Inc.

The sale is part of a Chapter 11 bankruptcy proceeding for Dallas-based Energy Future Holdings that is trying to get out from under a crippling debt caused by a $42 billion restructuring plan.