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SunEdison Settlement Approval Sought

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SunEdison filed with the U.S. Bankruptcy Court a motion for an order approving a settlement by and between the Debtors and Albemarle Corporation.

The motion notes, “The Utilities Claim shall be an allowed general unsecured claim of $1,273,841.18, representing the $2,473,841.18 in past due invoices reduced by the $1,200,000.00 security deposit (the ‘Security Deposit’) currently held by Albemarle. The Debtors will consent to relief from the automatic stay for Albemarle to apply the Security Deposit toward its unpaid invoices under the Utilities Agreement; and The TEA Claim shall be an allowed general unsecured claim of $7,331,824.31.”

The Court scheduled a January 12, 2017 hearing to consider the motion, with objections due by January 5, 3017.

Read more SunEdison bankruptcy news.

The post SunEdison Settlement Approval Sought appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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