Low oil prices and the distress of the solar, coal, and oil and gas producers resulted in nine energy firms making the top 10 of public company bankruptcies for 2016 with assets valued at more than US$3 billion each, according to a recent publication by law firm Jones Day. The top 10 bankruptcies of public companies – defined as a company with publicly traded stock or debt – included just one non-energy entry and came from the airline industry. Jones Day’s top 10 bankruptcies list for 2016 paints a rather gloomy picture of the energy industry’s struggles amid the downturn in oil prices, slashed investments in drilling, and heavy borrowing before the slump. Saint Louis-based solar energy company SunEdison Inc held the unfortunate no.1 spot on Jones Day’s list with US$11.5 billion worth of assets and more than US$8 billion in debt. SunEdison filed for Chapter 11 protection in […]