Solyndra Needs Trustee To Oversee Bankruptcy: DOJ

Law360, New York (September 30, 2011, 8:38 PM EDT) -- The U.S. Department of Justice asked a Delaware bankruptcy judge Friday to appoint a trustee to embattled solar panel maker Solyndra LLC, saying executives had failed to disclose important financial information and were distracted by the various investigations facing the company.

The DOJ does not allege any wrongdoing by Solyndra's executives, but says their decision to invoke their Fifth Amendment rights as a reason not to report the reasons for the company's bankruptcy makes it necessary for a trustee to take control.

In the alternative, the...
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