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 a royalist faction seized control of Barbados in 1650, James and William Drax were exiled from the island, along with other prominent parliamentarians. They returned to London, where they lobbied the House of Commons to send an expedition to retake the island. In 1651, Drax sailed in the fleet designed to re-conquer Barbados, and he was part of the team that went ashore to negotiate the surrender of the island. Restored to his estates and power, Drax once again took up a leading role in the governance of the colony. It is thought that Drax Hall, the impressive seventeenth-century manor