Sunnova Approved to Seek Creditor Vote on Bankruptcy Payout

Sunnova Energy International Inc., the rooftop solar firm that filed for bankruptcy in June, won court permission to send its payout plan to creditors for a vote.

Under the proposal, senior noteholders and other creditors owed more than $2.3 billion will collect about 2% of what they are owed. Much of their recovery will come from asset sales that brought in $90 million in cash and other considerations, the company said in court papers.

Creditors have until Oct. 13 to vote on the plan, which includes an option to release the company and related parties from future lawsuits. ...