Electrawinds entities' boards to apply for judicial reorganization

By Caroline Salls

Pittsburgh, Dec. 10 - Electrawinds SE's board of directors decided to apply for judicial reorganization for the company, and the board of Electrawinds NV will initiate the same procedure, according to a news release.

The filings were to be submitted Tuesday with the court in Ostend/Belgium and are expected to safeguard the going concern and continuity of operations of the two legal entities involved.

In the meantime, Electrawinds said stakeholders will continue discussions in order to achieve capital reinforcement as soon as possible.

Electrawinds is an Ostend, Belgium-based international renewable energy company.

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