By Reuters Staff
1 Min Read
March 9 (Reuters) - Gas and electric utility Just Energy Group Inc said on Tuesday it was restructuring under the Companies’ Creditors Arrangement Act in Canada and plans to file for Chapter 15 bankruptcy in the United States due to a hit from the unprecedented cold weather in Texas in February. (Reporting by Arathy S Nair in Bengaluru; Editing by Shinjini Ganguli)
Just Energy gets creditor protection after Texas chill bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.
Next two months critical for Laurentian: Hache timminspress.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from timminspress.com Daily Mail and Mail on Sunday newspapers.
Article content
Just Energy Group Inc. filed for court protection in Canada and will seek bankruptcy in the U.S. after suffering crushing losses in the Texas blackouts that left millions of people in the dark and plunged the region’s power sector into chaos.
The Canadian retail energy seller, which specializes in electricity and natural gas, is at least the second company to seek court protection in the wake of the crisis. It recently emerged from a recapitalization plan and a board shakeup. Pacific Investment Management Co. is the largest shareholder with a 28.9 per cent stake, according to data compiled by Bloomberg.
LU president speaks out on restructuring myalgomamanitoulinnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from myalgomamanitoulinnow.com Daily Mail and Mail on Sunday newspapers.