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Raser Technologies renegotiates DIP

09 June 2011

The United States Bankruptcy Court for the District of Delaware has approved a $12.5 million debtor-in-possession financing for bankrupt geothermal developer Raser Technologies. Raser filed for chapter 11 bankruptcy protection in April after failing to reach an acceptable sale for its poorly-performing Thermo No 1 project. The new DIP agreement follows negotiations between secured and unsecured creditors, which clashed over whether Raser's...

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