PosiGen Reaches Bankruptcy Financing Deal With Key Creditors

PosiGen PBC’s largest stakeholders have agreed to provide up to $41 million in financing to help the the solar installer fund its bankruptcy.

The deal resolves disputes with solar project investors and includes a sale of virtually all of PosiGen’s assets to lenders through a credit bid worth the amount of financing provided, the company said in a Dec. 24 filing in the US Bankruptcy Court for the Southern District of Texas.

List Government Receivables Fund LLC, a collateral agent, and other bridge lenders objected Friday to the timeline requested for court approval of the deal, saying it doesn’t provide ...