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The
U.S. renewable energy company, which filed for bankruptcy
protection on Thursday, did receive approval on Friday to tap
some of the $300 million loan it hopes to secure to carry it
through its bankruptcy.
SunEdison also asked the judge to appoint an examiner to review
recent transactions, an unusual request for a first day hearing.
In its request, SunEdison cited the subpoena it received from
the U.S. Department of Justice related to financing activities,
a U.S. Securities and Exchange Commission investigation and a
lawsuit from one of its affiliates.
Judge Stuart Bernstein of the U.S. Bankruptcy Court for the
Southern District of New York put off making a decision on the
request until next month, and said that other creditor groups
may want to have input on what the examiner will investigate.
Examiners and the reports they produce can change the course of
bankruptcy cases and are often used in high-profile, complex
situations, like for the operating unit of Caesars Entertainment
Corp <CZR.O>.
(Reporting by Jessica DiNapoli; Editing by David Gregorio)
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