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

Energy

Eni, Exxon, Statoil Win Irish Offshore O&G Licences

The Irish government said on Thursday it had awarded oil and gas licences to companies including oil majors Eni, Exxon and Statoil , allowing them to explore for hydrocarbons off the coast of Ireland.

Maersk Drilling Posts Record Profit

Maersk Drilling delivered the best result ever with a profit of USD 751m (USD 478m) in 2015 generating a ROIC of 9.3% (7.1%). The result was positively impacted

Total Proposes 0.61 ‎€ per Share Dividend

The Board of Directors of Total met on February 10, 2016, and agreed to propose to the Annual Shareholders’ Meeting on May 24, 2016, a 2015 annual dividend of 2.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Offshore Oil Pipelines Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0537 sec (19 req/sec)