Half of the companies on the Top 10 List filed prenegotiated or prepackaged chapter 11 cases. Dallas, Texas-based Energy Future Holdings Corp. ("Energy Future") surged into the No. 1 spot on the Top 10 List for 2014 when it filed for chapter 11 on April 29, 2014, in the District of Delaware with $41 billion in assets and $49 billion in debt. Following months of speculation over when it would file, the private equity-backed electricity provider filed for bankruptcy to implement a restructuring that would split the company between groups of creditors and eliminate more than $26 billion in debt. Formerly known as TXU Corp., Energy Future in 2007 was the subject of what was then the largest leveraged buyout ever. It was undone by a staggering debt load and plunging electricity rates caused by a free fall in natural gas prices, as hydraulic fracturing of shale rock unleashed a glut. Energy Future's chapter 11 case is the eighth-largest public chapter 11 case ever filed by asset value.