Debt repurchase ends TXU dispute
News
TXU Corporation, a Dallas-based energy company, has announced the repurchase of nearly $400 million in equity-linked debt securities, bringing eight months of litigation with bondholders to an end. The lawsuit, which was filed by bondholders in October 2003, claimed that a termination event had occurred voiding the obligation to purchase stock in 2004 and 2005 as outlined in the common stock purchase contracts. Investors would not be obliged to buy shares if either TXU or “its properties”
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