PosiGen PBC’s solar project stakeholders are objecting to the bankrupt company’s requests to maintain its cash management protocols and provide incentive payments to top executives, calling out PosiGen’s own reports of commingled cash.
Brookfield Asset Management, M&T Bank and others that have invested in PosiGen projects on Dec. 12 urged the US Bankruptcy Court for the Southern District of Texas to reject certain of the solar installer’s motions to run its recently-filed Chapter 11 case.
“It is critical that the misconduct cease immediately so that no further damage is done under this court’s supervision,” Brookfield, which has loaned about $600 ...
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