Stoneway Capital debtor GRM posts $4.38 million February net loss

By Sarah Lizee

Olympia, Wash., March 28 – Stoneway Capital Ltd. debtor GRM Energy Investment Ltd. reported a $4.38 million net loss on zero net revenue for the February period, according to its monthly operating report filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The company listed no unrestricted cash and equivalents at the end of the month.

Stoneway is a privately held New Brunswick, Canada, company based in Buenos Aires and established in 2016 for the purpose of constructing, owning and operating power plants to provide electricity to the wholesale electricity market in Argentina through indirect subsidiaries. The company filed bankruptcy on April 7, 2021 under Chapter 11 case number 21-10646.

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