Spanish energy company Abengoa SA has filed for bankruptcy protection in the U.S. as it continues talks with its banks and bondholders to agree on its plan to restructure billions of dollars in debt, the Wall Street Journal reported today. The renewable energy company, which operates around the world, on Monday night filed for chapter 15 protection in U.S. Bankruptcy Court in Wilmington, Del. The bankruptcy filing comes after Abengoa struck a deal with key creditors that gives it more time — through Oct. 28 — to continue negotiations on restructuring its debts, which court papers show total more than €14.6 billion ($16.48 billion). The company hopes the U.S. bankruptcy will provide extra breathing room for these talks.
