Stockholders get no say in SunEdison bankruptcy case – report

August 12 – A New York judge has expressed serious doubt that bankrupt US renewables company SunEdison (OTCMKTS:SUNEQ) will be able to repay its debts, The Wall Street Journal said today.

Judge Stuart Bernstein said he expects that the company’s debts outweigh the value of its assets by at least USD 1 billion (EUR 893m) and up to USD 2.5 billion. For this reason, he rejected a request to create an official committee to represent shareholders in the bankruptcy case, WSJ said (http://www.wsj.com/articles/sunedison-shareholders-lose-fight-for-say-in-bankruptcy-1471004122).

His ruling was submitted today in the US bankruptcy court for the Southern District of New York.

A day earlier, SunEdison’s lawyers said at a court hearing that the firm is working on a reorganisation plan that involves assets not divested in bankruptcy, including its stakes in yieldcos TerraForm Power (NASDAQ:TERP) and TerraForm Global (NASDAQ:GLBL). As announced earlier, the two firm are working with SunEdison to explore potential value creating options for the latter’s interests in them.

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