US government opposing Abengoa’s bankruptcy plan

In Washington, the Department of Energy, Department of Justice and other federal agencies are opposing Abengoa’s bankruptcy plan, saying at least part of the $130 million in subsidies the US government has plowed into the company over the years be recuperated. The case is set to be heard in a Delaware bankruptcy court on Tuesday. A US Trustee has also filed papers alleging the releases of liability on executives may be so broad as outlined in the plan as to violate federal law.