SunEdison teetering on the verge of bankruptcy

Troubled US renewables developer SunEdison is being investigated by two federal agencies regarding the cancellation of the takeover deal with Vivint Solar. On Thursday the company received a subpoena from the US Department of Justice (DoJ), investigating into the failed Vivint deal and the conduct of a former non-executive employee who is believed to have been involved in misconduct during the termination negotiations. The US Securities and Exchange Commission (SEC) have also launched an investigation into similar areas. The DoJ are interested in previously disclosed investigations by SunEdison's audit committee, intercompany transactions involving its two yieldcos, and the financing of its projects in Uruguay.

SunEdison Inc. said the U.S. Justice Department is looking into issues including financing activities related to a canceled acquisition and confirmed the company had received an inquiry from the Securities and Exchange Commission.

The Wall Street Journal reported Monday that the SEC is investigating the solar-power company’s disclosures to investors about how much cash it had on hand as its stock price collapsed last year.