Glacial Energy Files For Bankruptcy Protection

Posted by Greg Trauthwein
Thursday, April 10, 2014
Electricity and natural gas retailer Glacial Energy Holdings filed for Chapter 11 bankruptcy protection on Thursday with the intention to sell its assets to repay its debts.
 
The energy supplier, which unsuccessfully tried to sell its assets last month, said it reached a deal in which the lender, Vantage Commodities Financial Services I LLC, will acquire certain assets of Glacier.
 
Details of the deal with Vantage, a provider of market services to gas and power companies, were not immediately available.
 
In the filing, the company, with operations in 20 U.S. states and in 50 different utilities, had listed 18 affiliates seeking creditor protection with more than $1 billion in debt.
 
The Sandwich, Massachusetts-based company also listed as much as $1 billion in assets.
 
The case no. 14-10834-CSS in the United States Bankruptcy Court for the District of Delaware.
 
(Reporting by Shubhankar Chakravorty in Bangalore; Editing by Cynthia Osterman)
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Energy

Egypt to receive first LNG shipment from Rosneft in May

Egypt will receive the first of five agreed shipments of liquefied natural gas (LNG) from Russia's Rosneft this month, an official at the state gas board EGAS told Reuters on Thursday.

DNV GL 7 JIPs in North America

In a concerted drive to find smart solutions to safely reduce complexities and cost in the North American oil and gas industry, DNV GL is leading seven new joint

Dryad Maritime Unveil WxConnect

Today, 5th May 2016, Dryad Maritime release WxConnect, a new scalable, managed weather forecasting service for ships and fleets. The launch of the service comes

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0555 sec (18 req/sec)