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Aurelius Seeks ISDA Credit Swaps Ruling on Energy Future Unit’s Solvency

Bloomberg – Aurelius Capital Management LP asked a derivatives industry group to determine whether a unit of Energy Future Holdings Corp. is insolvent, which would trigger payouts on $1.2 billion of credit-default swaps linked to the utility provider’s debt.

The hedge fund made a request to the International Swaps and Derivatives Association to rule on Texas Competitive Electric Holdings Co., according to a letter on the New York- based group’s website. Aurelius unsuccessfully claimed in February that the unit of the power company was in default.

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