SunEdison was well known in the industry for acquiring other companies while expanding at incredible proportions.
After winning final approval on its bankruptcy plan, the company exits Chapter 11 as judge overrules remaining objections. These objections came from shareholders and two investors who had opposed the company’s exit financing.
SunEdison, which was once the world’s largest renewable-energy firm, leaves nothing for shareholders whose investment at one point had been worth about $10 billion.
The company’s Chief Financial Officer, Philip Gund, said in court filings that the exit is to “continue business operations to administer and maximize the value of the company’s remaining assets” which include intellectual property and fixtures.