Zen Energy creditors lucky to get 10¢ on the dollar after collapse

Zen Energy’s administrators Robert Smith and Jason Preston of McGrathNicol have recommended liquidation after concluding that adverse movements in renewable certificate and wholesale electricity prices left the retailer selling power at a loss, with secured creditors owed about $200 million expected to recover no more than 10 cents in the dollar and unsecured creditors owed roughly $415 million expected to receive nothing.

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