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Brilliant Energy Receives Authority To Continue Operations During Ch. 7, Time May Allow Sale Process To Be Conducted
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A bankruptcy judge has granted Brilliant Energy LLC, under a bankruptcy trustee, the ability to continue to operate under a Chapter 7 bankruptcy filing
The judge elected this action, rather than conversion to a Ch. 11 proceeding, after no opposition was voiced by any party, including wholesale supplier DTE Energy Trading
While the judge did not direct any specific action, the court granted the relief in an effort to preserve value, and the permission to allow operations will provide an opportunity for a potential sale process to be conducted.
As exclusively first reported by EnergyChoiceMatters.com, DTE Energy Trading had said in a filing that market indicators suggest that the Brilliant customer contracts have a value of approximately $6-12 million
See background on the case here
During a bankruptcy hearing, the court was told there is "some momentum" on potential sale
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March 17, 2021
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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com
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