Law360, New York ( November 17, 2015, 5:07 PM EST) -- In the high-profile bankruptcy case of Energy Future Holdings Corp. (EFH), a Delaware bankruptcy court recently called into question reliance on structural subordination as a way to protect a borrower's assets from satisfying claims against an affiliated company. In the EFH bankruptcy case, holders of unsecured payment-in-kind (PIK) notes issued by EFH subsidiary Energy Future Intermediate Holdings Company LLC (EFIH) sought to collect post-petition interest at the rate stated in the notes issued by EFIH. The court denied the noteholders' request for post-petition interest at the contract rate, instead ordering post-petition interest payable at the federal judgment rate — a rate significantly less than the contract rate.[1]...