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
Richard Erle-Drax-Grosvenor (1797–1828) Richard Erle-Drax-Grosvenor (1797–1828) Richard Edward Erle-Drax-Grosvenor (c. March 1797 – 18 August 1828), was a British politician. A member of the Grosvenor family now headed by the Duke of Westminster, he was the son of Richard Erle-Drax-Grosvenor and Sarah Frances, daughter of Edward Drax, of Charborough House, Dorset. On his father's death in 1819 he succeeded him as Member of Parliament for New Romney, a seat he held until 1826. Erle-Drax-Grosvenor inherited Charborough House through his mother. He died unmarried in August 1828, aged only 31. His sister Jane Frances Erle-Drax-Grosvenor inherited the estate. She married John Sawbridge, who assumed