Quantcast
Channel: Daily Bankrupt Company Updates | Bankrupt Company News
Viewing all articles
Browse latest Browse all 4593

FirstEnergy Solutions Possible Bankruptcy

0
0

 

In Form 10-K filed on February 21 2017, FirstEnergy Solutions Corp.’s (FES) auditor, PricewaterhouseCoopers LLP, raised substantial doubt about the Company’s ability to continue as a going concern. According to PricewaterhouseCoopers, the Company’s current financial position and the challenging market conditions impacting liquidity raise substantial doubt about its ability to continue as a going concern. Lack of clarity regarding the timing and viability of alternative strategies, including additional asset sales or deactivations and/or converting generation from competitive operations to a regulated or regulated-like construct in a way that provides FES with the means to satisfy its obligations over the long-term, may require FES to restructure debt and other financial obligations with its creditors or seek protection under U.S. bankruptcy laws. Read more on distressed companies.

The post FirstEnergy Solutions Possible Bankruptcy appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


Viewing all articles
Browse latest Browse all 4593

Latest Images

Trending Articles





Latest Images