{"id":683,"date":"2014-04-29T21:47:42","date_gmt":"2014-04-29T21:47:42","guid":{"rendered":"http:\/\/godwin.commercial-ideas.com\/?p=683"},"modified":"2019-11-05T16:08:14","modified_gmt":"2019-11-05T16:08:14","slug":"sid-scheinberg-interview-energy-future-holdings-bankruptcy","status":"publish","type":"post","link":"https:\/\/www.godwinbowman.com\/news\/sid-scheinberg-interview-energy-future-holdings-bankruptcy\/","title":{"rendered":"Sid Scheinberg Interview – Energy Future Holdings Bankruptcy"},"content":{"rendered":"\n

KRLD Reporter, Chris Sommers, Spoke with Local Attorney Sid Scheinberg of Godwin Bowman PC<\/h3>\n\n\n\n

Chris:“With about $40 billion in debt; Energy Future Holdings simply had no other choice. What are your thoughts on that?<\/em><\/p>\n\n\n\n

Sid:<\/strong> \u201cBasically they borrowed too much money for the company. Something went wrong in energy tradings, and all the money that they invested\u2026it wasn\u2019t enough to make the company work, if that makes sense.\u201d<\/p>\n\n\n\n

Chris:<\/strong> “So we\u2019ve heard a lot of people tell us today that, the typical customer\u2026this is not going to impact them at all\u2026<\/em>“<\/p>\n\n\n\n

Sid:<\/strong> \u201cNo, I don\u2019t feel that it will impact anyone, although with those free months that they were promising in all their radio ads, I assume they will be able to continue with those\u2026sort of like the airlines with frequent flyer programs, but that could be a little bit of a concern for a customer if they had some sort of special deal\u2026 if they get a free month down the road or something like that.\u201d<\/p>\n\n\n\n

Chris:<\/strong> “When a lot of us think of a recent corporate bankruptcy, we think of the American Airlines situation. Are these two cases similar at all?”<\/em><\/p>\n\n\n\n

Sid: <\/strong>“I think they\u2019re a little bit similar\u2026and I think that\u2019s why Energy Future Holdings was a little bit reluctant to file, because if you look at American Airlines\u2026it worked out well, but I don\u2019t think it\u2019s what the directors\u2026or at least the prior directors of American Airlines wanted. I really don\u2019t believe they wanted the people from US Air to come in and take over. When you go into a bankruptcy court, even though you may have a \u201cpre-packaged bankruptcy\u201d it may not end up that way. The judge is the ultimate decision maker, and it\u2019s based upon what\u2019s best for the creditors and everyone involved in the case\u2026not necessarily who is charge of the company now.\u201d<\/p>\n\n\n\n

Chris:<\/strong> \u201cNow as part of this process, will the various pieces of Energy Future Holdings be split up?\u201d<\/em><\/p>\n\n\n\n

Sid:<\/strong> \u201cWhat I\u2019m reading, it looks like they are going to be split up into the various operating entities. Certain things\u2026I think as dynamic as the Dallas\/Fort-Worth area is, the energy portion\u2026the Oncor operation is something that is certainly very valuable that people want. Other of their operations, perhaps a nuclear plant, could be spun off into another entity, maybe nobody wants the risks that are involved in operating those units.\u201d<\/p>\n\n\n\n

Chris:<\/strong> \u201cAnd what is it that makes Oncor so attractive? Is it the fact that they are regulated?\u201d<\/em><\/p>\n\n\n\n

Sid:<\/strong> \u201cYeah I think that fact that they are regulated, and like I say, this is a booming area. Toyota announced yesterday that they are bringing 5,000 people to our area. We are certainly on the cusp of something big here in North Texas.”Categories:<\/strong>In the News<\/a>, Financial Law<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KRLD Reporter, Chris Sommers, Spoke with Local Attorney Sid Scheinberg of Godwin Bowman PC Chris:“With about $40 billion in debt; Energy Future Holdings simply had no [\u2026]<\/span><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,5],"tags":[],"yoast_head":"\nSid Scheinberg Interview - Energy Future Holdings Bankruptcy - Godwin Bowman PC<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.godwinbowman.com\/news\/sid-scheinberg-interview-energy-future-holdings-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sid Scheinberg Interview - Energy Future Holdings Bankruptcy - Godwin Bowman PC\" \/>\n<meta property=\"og:description\" content=\"KRLD Reporter, Chris Sommers, Spoke with Local Attorney Sid Scheinberg of Godwin Bowman PC Chris:“With about $40 billion in debt; 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