Sidley is representing the debtors with respect to the November 2024 Chapter 11 filings of OYA Renewables Development LLC and seven affiliates in the U.S. Bankruptcy Court for the District of Delaware. With affiliates in both the United States and Canada, OYA is a Boston-based developer of large-scale commercial solar projects and an independent power producer. In their filings, the OYA debtors disclosed their plans to continue to market and sell an assortment of multi-state solar project developments, while blaming factors such as project delays and litigation for OYA’s liquidity crunch. OYA is in the process of approvals for debtor-in-possession (DIP) financing and a stalking horse bid for several of the projects by Radial Power LLC.
In a Law360 article published November 7, Duston is quoted as noting that “The third-party stalking horse is the culmination of sales and marketing work through most of the year, and other interested parties will have overbid and separate package opportunities in the proceedings.”
Duston McFaul and Maegan Quejada are leading the Sidley cross-office team, which includes Nate Elner, Chelsea McManus, Ian Ferrell, Veronica Courtney, and Hayden Ross Golemon (Restructuring); Jessica Adkins, Ashley Moulder, and Caroline Drennen (Energy Transactions); and Brian Minyard, Sara Daniel, and Katy Yu (Energy Finance).
