Bankruptcy

“Hanergy…is not above the rule of law, and this is not China. In abruptly closing the Alta plant, defendants violated the federal and California WARN Acts, which require at least 60 days written notice of termination where a plant is shut down and/or mass layoffs occur.”

The owners of DC Solar pleaded guilty to charges of conspiracy to commit wire fraud and money laundering in a Ponzi scheme that pulled in more than $900 million. Jeff Carpoff faces up to 30 years in jail, while Paulette Carpoff confronts up to 15 years.

Insolvency proceedings have been underway for Solibro GmbH since late summer, and business operations have long been suspended. This week another Hanergy subsidiary, Solibro Hi-Tech, has also declared insolvency.

Hello all and welcome to the last morning brief of the year! Today we’re looking at Global Solar layoffs, PG&E paying Topaz, a 100 MW Hecate project and more.

Hello wonderful Tuesday readers and welcome to the pvMB!

Welcome to a Veterans Day edition of the pvMB where we’ll be looking at Sungrow becoming the largest string and central inverter supplier in the United States, the choice of 8minute Solar Energy to construct Eland, and a big sPower project in Arizona.

California Governor Gavin Newsom, in expressing his dissatisfaction with PG&E, has proposed that it is not out of the question that the state could intervene in the restructuring of the utility. But what would this kind of government intervention look like and what would it mean for solar?

Six months after settling claims in the Chapter 11 bankruptcy case of its U.S. distribution subsidiary, the Chinese PV maker says it has signed more than 500 MW of U.S. module supply contracts.

Pacific Gas and Electric Company has requested that its bankruptcy court judge approve a 10% and 11% reduction on five contracts for solar and storage projects under development, in exchange for extensions ranging from 12 to 24 months to deliver working projects.

A federal judge has given California officials until August 7 to review third-party proposals for the revival, reconstruction and potential takeover of Pacific Gas And Electric. The maligned utility filed for Chapter 11 bankruptcy in January, facing roughly $30 billion in wildfire-related insurance claims.