Feds Poised To Fight Solyndra Ch. 11 Plan Over Tax Breaks

Law360, Wilmington (September 7, 2012, 3:31 PM EDT) -- Solyndra LLC on Friday won Delaware bankruptcy court approval to submit its Chapter 11 plan to creditors for a vote but still faces a likely U.S. government challenge to the plan over tax breaks for the defunct solar energy company’s private equity investors.

At a court hearing, U.S. bankruptcy Judge Mary F. Walrath signed off on Solyndra’s disclosure statement after the debtors revealed earlier this week that its plan sponsors and largest investors — Argonaut Ventures I LLC and Madrone Partners LP — could reap as...
To view the full article, register now.