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
James Drax he and his companions arrived and lived for a time in a cave, hunting for provisions, and clearing land for the planting of tobacco, which soon became the staple crop of the island. Drax later claimed that he had arrived with a stock of no more than £300, and that he intended to stay on the island until he had parlayed that initial investment into a landed fortune worth £10,000 a year back home. By the late 1630s, Drax had accumulated a substantial portion of land on Barbados, together with his brother William Drax. Owing to a slump in tobacco