bankruptcy

Bankrupt renewables firm SunEdison is seeking bankruptcy court approval to sell a number of its North American assets as part of its restructuring plan.

Bankrupt renewables firm SunEdison has informed its two yieldcos that it will no longer pay interest on their senior notes due to Chapter 11 bankruptcy proceedings, according to SEC filings.

Abengoa, which entered insolvency proceedings last November, has been granted bankruptcy protection under Chapter 15 over the objections of a group of insurance companies who claimed the Spanish renewables company’s talks to restructure billions in debt was unfair to US creditors.

Despite claims by the company and automatic acceptance by the mainstream media, SunEdison’s position as the ‘world's largest renewable energy developer’ almost came to fruition in 2015.

Crippled renewable energy firm SunEdison officially filed for bankruptcy under chapter 11 of the US Bankruptcy Code on Thursday.

Industry-watchers, environmental groups and think tanks have commented on news this morning that the biggest coal mining company in the US, Peabody Energy, has filed for Chapter 11 bankruptcy protection, citing downturn in the coal industry as a major factor.