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.
Yesterday Suniva filed for “relief” under a little-known legal provision that would allow the president to take action normally not permitted to protect a domestic industry from imports. pv magazine sought Jigar Shah’s perspective on this case and possible outcomes, and it frankly doesn’t look good.
Today Suniva filed for relief under a little-known act that could exempt the United States from global trade agreements and allow President Trump to take trade action against solar imports from multiple nations. Suniva is asking for a minimum import price of $0.78 per watt for modules and $0.40 for cells.
After being rescued from bankruptcy earlier this week, the formerly Top 4 solar installer fired more employees with no formal notice – and changed its name to Spectrum Solar.
A Delaware bankruptcy court judge yesterday approved the $50 million sale of the residential solar installer to private equity firm Northern Pacific Group.
In papers filed yesterday in the U.S. District Court for the Northern District of California (Oakland Division), the panel maker accuses three companies of stealing designs for its PowerXT modules and creating their own version, to the detriment of the company’s profits.
The tech giant has agreed to pay $24 million to the utility for the pleasure of circumventing its role.
In the seemingly unending saga that is the bankruptcy of SunEdison, its official committee of unsecured creditors filed objections to the plans to sell its shares in its two yieldcos, TerraForm Power and TerraForm Global.
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