Update: Retail Supplier Files Bankruptcy Petition
September 7, 2023 Email This Story Copyright 2010-23 EnergyChoiceMatters.com
Reporting by Paul Ring • firstname.lastname@example.org
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Astral Energy, LLC has filed a Chapter 7 bankruptcy petition in federal court
Astral Energy, LLC listed estimated liabilities as $0 - $50,000 and estimated assets as $0 - $50,000
The bankruptcy court issued a show cause order to Astral Energy, LLC alleging, "The debtor filed a petition on August 25, 2023 but failed to file the following documents required by Fed. R.
Bankr. P. 1007: Summary of Assets and Liabilities for Non−Individuals, Declaration About An Individuals Schedule,
Statement of Financial Affairs For Non−Individuals, Schedules A/B,E/F,G,H".
Boston Energy Trading & Marketing LLC was listed as a creditor who has claims secured by property, with the amount of claim listed as "unknown". Such property of the Debtor subject to a lien was described as "Collateral Accounts & Receivables".
The bankruptcy filing did not include a narrative description concerning the circumstances as of publication time
As previously reported, the New York ISO has stated in a notice that, "The NYISO, by correspondence dated September 1, 2023, declared Astral Energy in default, as defined in Section 7.5.1 of the Services Tariff and Section 184.108.40.206 of the OATT, for failure to comply with the NYISO’s creditworthiness requirements. Astral Energy remains in default under the NYISO’s tariffs. Astral Energy is a Load Serving Entity that serves distribution customers in New York. The NYISO has contacted the providers of last resort in the areas served by Astral Energy, and those providers will provide distribution service to Astral Energy’s former customers."