U.S. Bankruptcy Tracker: Texas Energy Crisis; Subchapter V Surge
- Texas power loss drives businesses distress with more to come
- New bankruptcy rule lets investors retain equity ownership
Photographer: Eddie Seal/Bloomberg
This article is for subscribers only.
The Texas power crisis is threatening to spark a new wave of distress in the Lone Star State, following a going concern warning from Just Energy Group Inc.
“The Texas power loss will have a significant impact on businesses that haven’t been able to restore power and can be devastating to companies that were already in a crisis scenario,” bankruptcy lawyer George Angelich of Arent Fox said in an interview.