This is an excerpt from EERE Network News, a weekly electronic newsletter.

June 19, 2002

Wind Energy, Cogeneration Developer Files for Bankruptcy

York Research Corporation, a developer of cogeneration and wind energy facilities, filed for Chapter 11 bankruptcy early this month. York developed the 46-turbine Big Spring Windpower Project in Texas in 1999, a project that earned the company the coveted Powerplant Award from Power Magazine. Problems began to appear in late October 2001, when the company defaulted on some of its bonds and admitted to using project income for general corporate purposes, in violation of the provisions governing the bonds. The company has since been fighting off bankruptcy filings by its creditors. To see the June 7th bankruptcy announcement, select "SEC Filings" on the York Web site. See also the York press release page.

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