Drax Group in 2002. Many companies experienced financial problems, and Drax Power Station’s major customer went into administration, triggering financial difficulties for Drax. Following a series of standstill agreements with its creditors, the AES Corporation and Drax parted company in August 2003. During the restructuring, a number of bids were received from companies wishing to take a stake in the ownership of Drax, but creditors voted overwhelmingly to retain their interest in Drax. In December 2003, the restructuring was completed and Drax came under the ownership of a number of financial institutions. Almost exactly two years later, on 15 December 2005, Drax
Read School, Drax Read School, Drax The Read School is a boarding, day, and independent school, based in the rural village of Drax, near Selby, North Yorkshire. Formerly a boys' school, it became co-educational in 1996. As of 2010 it hosts approximately 350 boys and girls between the ages of 3-18, comprising a senior school of approximately 280 and a junior school of around 70 children. Drax grammar school was founded in 1667 by Charles Reade, who wanted boys from poor families to be able to "read, write and cast accounts" and to teach them "Latin, Greek and Hebrew and other languages as