Presidio Tech Objects To Evergreen Stalking Horse Plan

Law360, New York (August 26, 2011, 7:05 PM EDT) -- Presidio Technology Capital LLC objected Thursday to solar panel maker Evergreen Solar Inc.'s Delaware bankruptcy court bid to enter into a $30 million stalking horse asset sale agreement with a group of bondholders, saying the deal first needs an amendment to protect Presidio's property.

According to the objection, Presidio had a deal with Evergreen under which it leased the solar panel company computer and computer-related equipment, some of which Evergreen would buy for a $66,500 lease termination payment, with the rest going back to Presidio....
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