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

SunEdison Extension Sought

0
0

SunEdison filed with the U.S. Bankruptcy Court a third motion to extend the exclusive period during which the Company can file a Chapter 11 plan and solicit acceptances thereof through and including February 27, 2017 and April 28, 2017, respectively.

The motion explains, “Since the outset of these cases, the Debtors have focused on maximizing the value of their assets for the benefit of their estates. In particular, the Debtors have engaged in a comprehensive marketing process to generate value through the sale of their various renewable energy development assets, as well as their related business platforms. As reported in the December 22, 2016 status report of CEO and CRO, John S. Dubel, the Debtors and their non-debtor affiliates have executed numerous definitive asset purchase agreements expected to generate approximately $770 million in gross sale process for the estates and their non-debtor affiliates.”

In addition, “Since filing the Second Exclusivity Motion, the Debtors have made significant progress towards the restructuring objectives articulated at the outset of these cases: (i) cultivate consensus over key economic issues with various creditors and (ii) market and sell Projects while focusing on a plan of reorganization focused around a core group of assets. In addition, the Debtors have spent significant time since the filing of the Second Exclusivity Motion responding to a number of different litigation matters brought by the Committee.”

The Court scheduled a January 24, 2017 hearing on the motion, with objections due by January 17, 2017.

Read more SunEdison bankruptcy news.

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


Viewing all articles
Browse latest Browse all 4593

Latest Images

Trending Articles





Latest Images