• News Desk

SUNEDISON SHAREHOLDERS DENIED OFFICIAL ROLE IN BANKRUPTCY


A U.S. judge denied a request by shareholders of SunEdison Inc (SUNEQ.PK) for an official committee to represent them in the bankruptcy of the U.S. renewable power plant developer, which the judge described as "hopelessly insolvent."In a setback for equity holders hoping to recover some of their investment, U.S. Bankruptcy Judge Stuart Bernstein said in his 21-page ruling filed on Friday that the committee was "not necessary at this time." But he added that shareholders, who often receive no or very limited recoveries in a bankruptcy, could renew their efforts if circumstances changed.

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