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Just Energy Seeks Bankruptcy After Texas Loss
Bloomberg 3/9/2021 Paula Sambo
(Bloomberg) Just Energy Group Inc. filed for court protection in Canada and bankruptcy in the U.S. after suffering crushing losses in the Texas blackouts that plunged millions of people into darkness and the region’s power sector into chaos.
The Canadian retail energy seller, which specializes in electricity and natural gas, is at least the second company to seek court protection in the wake of the crisis. It recently emerged from a recapitalization plan and a board shakeup. Pacific Investment Management Co. is the largest shareholder with a 28.9% stake, according to data compiled by Bloomberg.
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Just Energy Group Inc. filed for court protection in Canada and will seek bankruptcy in the U.S. after suffering crushing losses in the Texas blackouts that left millions of people in the dark and plunged the region’s power sector into chaos.
The Canadian retail energy seller, which specializes in electricity and natural gas, is at least the second company to seek court protection in the wake of the crisis. It recently emerged from a recapitalization plan and a board shakeup. Pacific Investment Management Co. is the largest shareholder with a 28.9 per cent stake, according to data compiled by Bloomberg.
Just Energy Seeks Bankruptcy After Texas Loss msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
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