Hanergy subsidiary Solibro Hi-Tech is liquidated

From pv magazine Germany

The business operations of Solibro Hi-Tech, a Hanergy company, were finally ceased as insolvency proceedings began. All employees were given notice.

A spokesperson for the insolvency administrator Henning Schorisch from the law firm hww hermann wienberg wilhelm provided this information to pv magazine on Monday.

Solibro joins Alta Devices, Global Solar Energy and MiaSolé on the roster of thin-film solar companies acquired and later shut down by Hanergy.

Last month, the Stendal insolvency court opened regular insolvency proceedings for the CIGS thin-film module firm, which belongs to the Chinese conglomerate Hanergy. Schorisch had tried to develop a reorganization plan during the preliminary bankruptcy, but was unsuccessful.

“An M&A process was set up by the administrator during the preliminary administration, but was unfortunately unsuccessful,” said the spokesperson.

Due to the lack of investor interest and the termination of all employees, the photovoltaic company is effectively and irrevocably shut down.

The public announcement of the insolvency proceedings indicate that creditors can register their claims with the insolvency administrator until March 16. The court convened a meeting of creditors on March 31.