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
John Erle-Drax John Erle-Drax John Samuel Wanley Sawbridge Erle-Drax (6 October 1800 – 5 January 1887) was a British Member of Parliament (MP) during the Victorian era. Born John Sawbridge, he was the son of Samuel Elias Sawbridge, of Olantigh in Kent, and grandson of John Sawbridge, Lord Mayor of London in 1775. John married Jane Frances Erle-Drax-Grosvenor, daughter of Richard Erle-Drax-Grosvenor, in 1827. On 13 August 1828, his wife's brother Richard Erle-Drax-Grosvenor died unmarried, and he succeeded to her family estates, including Charborough House, assuming the surname of Erle-Drax. He was a captain in the East Kent Militia, and raised a