Brookfield Faces Looming Creditor Clash Over Polish Solar Firm

Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomePMN BusinessBrookfield Faces Looming Creditor Clash Over Polish Solar FirmAlternative 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.Author of the article: You can save this article by registering for free here. Or sign-in if you have an account.(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 ONLYSubscribe 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 ARTICLESSubscribe 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 ARTICLESCreate 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 accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountOn 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. 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.Get the latest headlines, breaking news and columns.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try again“The committee should not be forced to wait,” Bruno said.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.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.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. 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.The case is GoldenPeaks Poland Holding Limited, 26-90564, US Bankruptcy Court, Southern District of Texas (Houston).This advertisement has not loaded yet.Notice for the Postmedia NetworkThis website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.