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A bankruptcy judge has ruled that shareholders, as well as bondholders, are not entitled to a seat at the table, as Sunedison Inc (OTCMKTS:SUNEQ) tries to make its way out of Chapter 11. The ruling essentially means a good number of people affected by the bankruptcy filing will not have a say on the outcome of the proceedings.

Bankruptcy Proceedings

 Chances of recouping something from the company continues to dwindle by the day having emerged that the company’s debts currently exceed its assets by at least $1 billion. What this means is that shareholders and bondholders may have nothing left, once all the bankruptcy proceedings are concluded.

Shareholders and Bondholders are not the only ones feeling the full wrath of the bankruptcy filing. SunEdison has already notified its two Yieldcos that it will not be paying payments believed to be worth $161.1 million. TerraForm Power Inc (NASDAQ:TERP) and TerraForm Global Inc (NASDAQ:GLBL) received letters of the cancellation on July 29 before an August 1 deadline. The two have already disputed the move.

SunEdison still owns controlling shares in the two Yieldcos. However, it has already indicated intentions to sell the stakes as part of an effort that seeks to raise cash needed to finance debt payments.  TerraForm Power, on the other hand, is considering auctioning itself in September as it seeks to move away from the squabbles of the parent company.

 Asset Sales

Sell-off of some assets to pay off some creditors has already come into play. The Economic times reports that the company is planning to sell its Indian assets to Greenko Energy in a deal that could fetch as much as $1.3 billion. The selloff in India could include 1400 megawatts of solar and wind projects.

Sunedison Inc (OTCMKTS:SUNEQ) finds itself in the current mess after its aggressive plan of growing through acquisition faltered miserably. The company is yet to file its reorganization plan with the bankruptcy court having already received an extension for the same.

Iddriven Inc (OTCMKTS:IDDR) Banking On Microsoft Corporation (NASDAQ:MSFT) Channel Partnership Credibility

Iddriven Inc (OTCMKTS:IDDR) is ramping up support for its Identity and Access Management Solution as it looks to take advantage of growing demand for such solutions. With security online becoming a primary issue for businesses, the enterprise software company believes its newly released product has what it takes to be a force to reckon with in the industry while shielding clients from attacks.

 Recently the company inked a channel partnership with tech giant Microsoft. Oxford Computer Grouped has already agreed to finance the development of a proprietary software  that is to connect the company’s IDaaS with that of Microsoft.

 Chief Executive Officer Arend Verweij believes having OCG to build a connector that connects Iddriven Inc (OTCMKTS:IDDR)’s IDaaS solution with Microsoft’s IAM software will help bolster the company’s credential in the industry.

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