U.S. government-backed battery supplier Ener1 has filed for Chapter 11 bankruptcy, the third U.S.-backed energy company to file in as many months.
Ener1 posted a notice today stating that it "has reached agreement with its primary investors and lenders on a restructuring plan that will significantly reduce its debt." This action will pave the way for up to $81 million for recapitalization, the company said.
A "pre-packaged" Chapter 11 case was filed in U.S. Bankruptcy Court in the Southern District of New York. Ener1 is planning to complete the restructuring process within … Read more