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SunEdison Has Loan Deal, Gives Creditors Funds for Probe

  • Creditors, lenders and yieldcos all support new financing
  • Company drops examiner bid in favor of creditor committe probe
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SunEdison Inc. reached a new agreement on a loan to fund its operations in bankruptcy, overcoming objections from creditors -- who will also be allowed to investigate the renewable-energy giant’s pre-bankruptcy conduct to seek possible recoveries.

“The devil’s in the details, there’s lots to discuss. We’re hopeful this is the first step to building a consensual plan here,” the company’s lead lawyer, Jay Goffman, told U.S. Bankruptcy Judge Stuart Bernstein in a Manhattan court Friday.