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
Drax Project Drax Project Drax Project is a four piece New Zealand band that formed in 2014. Recording a mix of jazz, R&B and pop music, the band came to prominence in 2018 with the single "Woke Up Late", which was certified platinum by RIANZ. Drax Project began as buskers in Wellington in 2013, composed of Shaan Singh on saxophone and Matt Beachen on drums (the origin of the band's name is a portmanteau of 'drums' and 'sax'). Drax Project mostly performed pop song covers while busking at Courtenay Place, Wellington and performing at local bars and events. Double bassist Sam Thomson