SunEdison Bankruptcy Slogs Along

The Wall Street Journal reports that as owner of an array of alternative power projects in various stages of development, the company agreed to start selling some assets while it weighs whether to reorganize or shut down after a series of sales.

Court records reveal an army of advisers has been raking through SunEdison’s portfolio, seeking to put together deals that would make a dent in the company’s $8 billion pile of debt.

Hedge fund D.E. Shaw has offered to buy SunEdison’s stake in a California solar power project for $80 million.

Top leaders have departed, including former chief executive Ahmad Chatila. The company is also the subject of probes by the Justice Department and Securities and Exchange Commission, as well as an internal investigation prompted by whistleblowers.

It is currently unclear whether or not Buckthorn, LLC, which is the SunEdison subsidiary which is contracted with Georgetown, is on the chopping block or not.  Stay tuned as this debacle plays out.