House Panel Wants Loan Testimony From Abound Solar CEO

Law360, Washington (July 3, 2012, 4:01 PM EDT) -- GOP lawmakers on Monday requested that the CEO of Abound Solar Inc., a bankrupt solar panel manufacturer, testify about the company's $400 million loan guarantee from a controversial U.S. Department of Energy program that has faced constant criticism from Republicans.

The Subcommittee on Regulatory Affairs, Stimulus Oversight and Government Spending hearing, scheduled for July 18, will exclusively focus on Abound and its DOE loan guarantee. CEO Craig Witsoe headed the solar panel manufacturer, which is seeking bankruptcy protection in Delaware after finding itself unable to compete...
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