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)
 

Energy

J.F. Lehman Acquires Oldenburg's Heavy Equipment Group

J.F. Lehman & Company (JFLCO) informs it has signed a definitive agreement with Oldenburg Group Incorporated to acquire its Heavy Equipment Group, including both its defense and mining business units.

Wärtsilä Re-gasification system for Norwegian Ship Conversion

Wärtsilä has been contracted to supply the re-gasification system for an FSRU (Floating, Storage, Re-gasification Unit) conversion project that Höegh LNG plans to carry out on a modern LNG vessel.

US Offshore Lease Sale Yields $18 Mln in High Bids

Today’s U.S. oil and gas Lease Sale 248 garnered $18,067,020 in high bids for 24 tracts covering 138,240 acres in the Western Gulf of Mexico Planning Area, announced

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Pipelines Salvage Ship Electronics Ship Repair 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: 0.0564 sec (18 req/sec)