Article

Generation Resources files bankruptcy

Generation Resources Holding Co. filed for Chapter 7 bankruptcy on Monday. The Leawood-based wind-energy project developer filed to rid itself of as much dischargeable debt as possible as the company has little in the way of personal property but owes nearly $6 million to creditors holding unsecured nonpriority claims. ...According to its Web site, the company was building or had built several wind-energy projects in Pennsylvania.

Generation Resources Holding Co. filed for Chapter 7 bankruptcy on Monday.

The Leawood-based wind-energy project developer filed to rid itself of as much dischargeable debt as possible as the company has little in the way of personal property but owes nearly $6 million to creditors holding unsecured nonpriority claims.

Court records show that Overland Park-based Black & Veatch Corp. holds a $2.2 million claim against Generation Resources in the form of a contingent interest promissory note.

A pair of community foundations in Pennsylvania also hold an evenly divided promissory note against the company worth $2.6 million.

Also holding an unsecured claim is London-based wind-farm financier Freestream Capital LLC, which has a $1 million contract with Generation Resources.

Attempts to reach company officials were unsuccessful on Tuesday. Its Web site is barely functional and has had all e-mail addresses removed from it.

According to its Web site, the company was building or had built several wind-energy projects in Pennsylvania.

Generation Resources Holding Co. filed for Chapter 7 bankruptcy on Monday.

The Leawood-based wind-energy project developer filed to rid itself of as much dischargeable debt as possible as the company has little in the way of personal property but owes nearly $6 million to creditors holding unsecured nonpriority claims.

Court records show that Overland Park-based Black & Veatch Corp. holds a $2.2 million claim against Generation Resources in the form of a contingent interest promissory note.

A pair of community foundations in Pennsylvania also hold an evenly divided promissory note against the company worth $2.6 million.

Also holding an unsecured claim is London-based wind-farm financier Freestream Capital LLC, which has a $1 million contract with Generation Resources.

Attempts to reach company officials were unsuccessful on Tuesday. Its Web site is barely functional and has had all e-mail addresses removed from it.

According to its Web site, the company was building or had built several wind-energy projects in Pennsylvania.

 


Source: http://kansascity.bizjourna...

APR 29 2008
http://www.windaction.org/posts/14805-generation-resources-files-bankruptcy
back to top