27 Jul '17, 12pm

SunEdison Sets Bankruptcy Exit With Nothing for Shareholders

SunEdison Sets Bankruptcy Exit With Nothing for Shareholders

SunEdison Inc. won final approval for a bankruptcy plan that will leave what was once the world’s largest renewable-energy firm as a shell of its former self, with nothing for shareholders whose investment at one point had been worth about $10 billion. SunEdison , known for gobbling up other companies and expanding at breakneck speed, will now exit Chapter 11 to “continue business operations to administer and maximize the value of the company’s remaining assets,” including intellectual property and fixtures, Chief Financial Officer Philip Gund said in court filings. U.S. Bankruptcy Judge Stuart Bernstein’s approval of the reorganization plan in Manhattan court Tuesday came as he overruled remaining objections from shareholders as well as two investors who had opposed the company’s exit financing. He noted that many shareholders had emailed him to object to the plan, and th...

Full article: http://www.renewableenergyworld.com/articles/2017/07/sune...

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Nothing

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#UASF #BIP148

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