44 minutes ago
2
PROTECT YOURSELF with Orgo-Life® QUANTUM TECHNOLOGY
Orgo-Life the new way to the future Advertising by AdpathwayArticle content
(Bloomberg) — Alternative asset manager Brookfield Asset Management Ltd.’s plan to take over the operations of a Polish solar firm that suddenly collapsed into bankruptcy faces potential opposition from lower-ranking creditors.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
On Friday, a federal judge in Houston ordered Brookfield to turn over Whatsapp messages, emails and other internal communications about the lender’s effort to swap GoldenPeaks Poland Holding Ltd. debt it owns for the control of the company’s solar-power operations. The order follows a request of an official committee of unsecured creditors to get details about Brookfield’s bid.
Article content
Article content
Article content
The New York-based asset manager agreed to give the creditors’ committee the details by Sunday, the day before the deadline to file its opposition to the proposed sale. Committee lawyer Victoria Bruno has complained that Brookfield has spent weeks dragging its feet on what should be a routine request for information. The committee needs the information to decide whether to object to the sale, she said in court.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
“The committee should not be forced to wait,” Bruno said.
Article content
US Bankruptcy Judge Alfredo Perez is scheduled to hold a hearing on Tuesday to decide whether to approve the sale to Brookfield. Under its purchase deal, Brookfield has agreed to take over the assets in exchange for canceling debt it is owed by GoldenPeaks.
Article content
Brookfield has met with the committee to try to resolve their differences and has agreed to provide information about the sale as quickly as it can, company attorney Evan Fleck told the judge during the hearing on Friday.
Article content
The asset manager has been pushing for a fast sale of GoldenPeaks, which owes lenders, including Brookfield, almost $1 billion. Perez has agreed to start the sale hearing on Tuesday as Brookfield has requested, but warned that the process may not conclude the same day.
Article content
Before GoldenPeaks filed for bankruptcy in May, the company spent years amassing energy assets in Poland and Hungary and claimed to be one of the biggest solar-power players in central and eastern Europe. It’s the largest owner of utility-scale solar assets in Poland, according to court documents filed in Houston.
Article content
The case is GoldenPeaks Poland Holding Limited, 26-90564, US Bankruptcy Court, Southern District of Texas (Houston).
Article content
English (US) · 
French (CA) · 
French (FR) ·