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
Plunkett-Ernle-Erle-Drax Plunkett-Ernle-Erle-Drax Plunkett-Ernle-Erle-Drax is the quadruple-barrelled surname of the descendants of Admiral The Honourable Sir Reginald Aylmer Ranfurly Plunkett-Ernle-Erle-Drax (1880–1967), who was the younger son of John William Plunkett, 17th Baron of Dunsany by his wife Ernle Elizabeth Louisa Maria Grosvenor, née Burton, later Ernle-Erle-Drax (1855–1916). The surname of Plunkett-Ernle-Erle-Drax was assumed in lieu of Plunkett, his name from birth, by royal licence on 4 October 1916. Ernle is pronounced "earnly." The current head of the family is the Westminster M.P. Richard Grosvenor Plunkett-Ernle-Erle-Drax, otherwise Richard Drax. See Burke's Peerage and Baronetage under the account of the Dunsany barony for a