Dec 6, 2015
Call them hedge fund hotels or financial engineering Frankensteins, their complexity and leverage are being looked at with fresh eyes by both rank-and-file investors and hedge fund billionaires.
http://www.forbes.com/sites/antoinegara/2015/12/06/rethinking-the-c...
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Sunedison Inc Falls After Two Class Action Lawsuits Filed
Dec 4, 2015 - Earlier today, Goldberg Law PC announced that it has filed a class action lawsuit against Sunedison Inc. (NYSE:SUNE). The law firm thinks that the renewable energy company has misled investors about its financial position through its statements.
In addition to that, the company also failed to highlight its ability to continue the acquisition spree. The lawsuit has requested investors, who bought Sunedison stock between June 16 and October 6, and have incurred a loss greater than $1 billion, to become a part of the lawsuit by February 1, 2016.....................
http://www.bidnessetc.com/58715-sunedison-inc-falls-after-two-class...
New investor may file claims against TerraForm Power, SunEdison
December 3 - A hedge fund headed by billionaire David Tepper on Wednesday reported a 9.25% stake in TerraForm Power (NASDAQ:TERP) and said it is exploring potential claims of impropriety against both the yieldco and its parent SunEdison (NYSE:SUNE).
In a letter to TerraForm Power’s board, Appaloosa Management LP expressed its dissatisfaction with the “unfortunate departure” from the yieldco’s initial business model, caused by its agreement to buy a 523-MW rooftop photovoltaic (PV) portfolio from SunEdison once the latter closes its acquisition of residential solar firm Vivint Solar (NYSE:VSLR).
The hedge fund believes that the purpose of the particular deal is to promote SunEdison’s desire to acquire Vivint’s development and operating assets and has nothing to do with enhancing the quality and value of TerraForm Power’s holdings......................
http://renewables.seenews.com/news/new-investor-may-file-claims-aga...
http://www.bidnessetc.com/57721-sunedison-inc-faces-legal-action-af...
ALSO
http://www.businesswire.com/news/home/20151117007137/en/Law-Offices...
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Hopefully the Maine media will see fit to write about this company's current situation in the same way we saw press coverage every time First Wind cooked some hot dogs for a snowmobile club. Will the company be able to honor its financial obligations or will Turbine-Rot become a permanent fixture on our mountains and hills?
Forever Defiled: Heaps of Rotting Rubbish on Maine's Sacred Mountains
Today’s news brings some potentially troubling findings about the company’s debt position.........the subject of several ongoing shareholder lawsuits related to its common stock and the acquisition by SUNE and TERP. This is listed as a risk in both the VSLR and SUNE 10-Q, which could cause the acquisition to be delayed.”.........All this follows disclosure via federal filings last week that showed activist hope Third Point exited its holdings in the shares in the most recent period, and that Greenlight Capital reduced its stake.
http://blogs.barrons.com/techtraderdaily/2015/11/17/sunedison-plung...
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SunEdison Surprise? - $739 Million in Extra Recourse Debt? (Bloomberg)
On Monday, the analysts highlighted another tidbit that will surely not be welcome news for SunEdison; an apparent reclassification of more than $700 million worth of debt from "non-recourse" to "recourse," meaning the company's lenders now have access to additional SunEdison collateral. SunEdison has about $12 billion of debt on its balance sheet, with some $3 billion of that amount listed as recourse to the company, according to Deutsche Bank analyst Vishal Shah and Jerimiah Booream-Phelps.
http://www.bloomberg.com/news/articles/2015-11-16/sunedison-now-wit...
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Nov 13, 2015
Sun Edison: Most disastrous big hedge fund trade of 2015 (Forbes)
It’s the most disastrous big hedge fund trade of 2015. A highly leveraged, deal-hungry stock with a management team cheer-leaded by prominent funds that sought to use a complex financial structure and spongy capital markets to stay a step ahead of a fast-changing industry. Now the stock is crashing, exposing issues of leverage that are causing capital markets to pull back, clouding the company’s financial picture...........
http://www.forbes.com/sites/antoinegara/2015/11/13/sunedisons-big-s...
also:
Sun Edison: Investors Turn Out the Lights (Barrons)
When we cast a cold eye last year on the shares of SunEdison, they were going for 20 bucks apiece and Greenlight Capital’s David Einhorn was telling his hedge fund’s investors that the solar-power developer should be worth $35 a share (“Shining a Light on SunEdison’s Growth Strategy,” May 5, 2014)..............The just-reported results for the September quarter haven’t reassured anyone. The company lost $287 million, or 91 cents a share and has more than $10 billion in debt. Gordon Johnson has a new price target: $2.
To read the story, simply Google: Sun Edison: Investors Turn Out the Lights
Views: 1731
Comment
Those construction firms – in order to ensure recovery of these massive and mounting debts – are placing Liens (under the Construction Lien Act) over the turbine hosts’ land.
The Lien gives the party registering it an entitlement to have a court order that the land subject to it be sold; in order to satisfy the outstanding debt.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
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Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
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