Here’s What Energy Future Is Paying the Lawyers, Bankers and Advisers Who Worked on Restructuring

Energy Future Holdings’ bid to restructure some $42 billion in debt under bankruptcy protection isn’t just the biggest busted LBO in history.

It’s also something of a full employment act for bankruptcy lawyers, especially now that cracks are showing in what the Texas energy company calls a “prearranged” restructuring.

The various EFH entities aren’t just paying their own army of lawyers and financial advisers working on the case. They’ve also agreed to pick up the tab for the banks, hedge funds and distressed debt traders that have signed on to their restructuring pact.

Energy Future’s lawyers disclosed this juicy tidbit at the back of its 464-page restructuring pact. But you can read it here.

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