US Trustee Rips Stalled Solyndra’s $3M DIP Loan Request

Law360, Wilmington (May 24, 2012, 2:57 PM EDT) -- The U.S. Trustee took issue on Wednesday with Solyndra LLC’s bid for an extra $3 million to fund its bankruptcy, arguing the defunct solar panel maker needs to make haste on a liquidation plan before receiving more cash to pay professionals.

On May 14, Solyndra asked for a Delaware bankruptcy judge’s approval to increase its debtor-in-possession financing from $4 million to $7 million and to extend the facility’s cut-off date, saying it could be forced to convert the case to a Chapter 7 without the relief....
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