In a shocking and bizarre twist to bankrupt panel manufacturer Suniva’s potentially devastating trade-protection petition, the company’s biggest U.S. creditor told the Chinese that for the right price, it could make the trade complaint disappear.
IHS Markit says the complaint creates uncertainty among module manufacturers, who can no longer offer price guarantees to clients until the case is resolved.
The Bonn court has confirmed to pv magazine that Horst Piepenburg was named temporary administrator for SolarWorld. The company’s German subsidiaries have also filed for insolvency.
The case, filed in U.S. Bankruptcy Court for the District of Nevada, shows the California installer has liabilities of up to $10 million, owed to up to 5,000 creditors.
The wind down of the former fifth-largest residential solar installer continues as its new owner purchases some of its contracts and promises to hire “a substantial majority” of the bankrupt company’s employees.
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