Brookfield Cleared to Lead GoldenPeaks Bankruptcy Auction
A US bankruptcy court approved Brookfield (BN) as the lead bidder for GoldenPeaks Poland's assets while allowing the investment firm to keep funding the company's bankruptcy process, The court also dismissed objections from funds managed by Joh. Berenberg, Gossler & Company, which argued Brookfield's dual role gave it an unfair advantage, the report said. The decision allows Brookfield to apply roughly $114.8 million of its debt holdings toward any purchase offer, rather than in cash. GoldenPeaks has started seeking buyers as part of its restructuring. The investment bank has already approached dozens of potential strategic and financial bidders. Brookfield, GoldenPeaks Poland Holding and Joh. Berenberg, Gossler & Co. did not immediately reply to ' request for comment. Price: $43.87, Change: $+0.44, Percent Change: +1.00%
A US bankruptcy court approved Brookfield (BN) as the lead bidder for GoldenPeaks Poland's assets while allowing the investment firm to keep funding the company's bankruptcy process, The court also dismissed objections from funds managed by Joh.
Berenberg, Gossler & Company, which argued Brookfield's dual role gave it an unfair advantage, the report said.
The decision allows Brookfield to apply roughly $114.8 million of its debt holdings toward any purchase offer, rather than in cash.
GoldenPeaks has started seeking buyers as part of its restructuring.
The investment bank has already approached dozens of potential strategic and financial bidders.
Brookfield, GoldenPeaks Poland Holding and Joh.
Berenberg, Gossler & Co. did not immediately reply to ' request for comment.
Price: $43.87, Change: $+0.44, Percent Change: +1.00%