SunEdison agrees to withdraw request for independent examiner
The headquarters of SunEdison is shown in Belmont, California April 6, 2016. REUTERS/Noah Berger
Get Alerts CZR Hot Sheet
Join SI Premium – FREE
By Jessica DiNapoli
NEW YORK (Reuters) - SunEdison Inc
When it filed for bankruptcy in April, SunEdison had asked the judge to appoint an examiner to probe recent transactions, citing a U.S. Department of Justice subpoena related to financing activity and an investigation by the U.S. Securities and Exchange Commission.
Dropping the request, which was a bargaining chip in negotiations on SunEdison's $300 million bankruptcy loan, helps to resolve disputes over the loan and allow its Chapter 11 to move forward. Creditors and affiliated companies had filed objections to the loan.
SunEdison had planned on receiving approval for the loan on May 19.
Independent examiners' reports can change the course of bankruptcy cases and are often used in complex and potentially litigious bankruptcies like that of the operating unit of Caesars Entertainment Corp (NASDAQ: CZR).
(Reporting by Jessica DiNapoli; Editing by Richard Chang)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Coinbase (COIN) CEO Armstrong on X: Great progress on the SEC case - and huge win for self-custodial wallets
- Can-Fite BioPharma (CANF) Reports FY23 Results, Issues Clinical Update
- Merck (MRK) Announces EU Approval of KEYTRUDA Plus Chemotherapy for NSCLC
Create E-mail Alert Related Categories
ReutersRelated Entities
BankruptcySign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!