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Provider: Reuters Investment Profile
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Provider: GlobalData
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Provider: GlobalData
$250.00

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Rede Energia SA Files Judicial Recovery Request


Monday, 26 Nov 2012 06:11am EST 

Rede Energia SA announced that on November 23, 2012, together with Companhia Tecnica de Comercializacao de Energia (CTCE), QMRA Participacoes SA (QMRA), Empresa de Eletricidade Vale Paranapanema SA (EEVP) and Denerge Desenvolvimento Energetico SA (Denerge) it filed the request for judicial recovery. Despite the efforts of the administration to creditors, customers and potential investors, the request for judicial recovery proved to be inevitable given the worsening of the situation of economic-financial crisis of the Company, CTCE, QMRA, EEVP and Denerge. The measure seeks to protect the value of the assets of these companies, respond to the needs of their creditors using available resources and maintain the continuity of their activities. Information regarding the process will be disclosed to the market in due course.