Union Says Private Creditors Hog Solyndra Ch. 11 Dollars

Law360, New York (October 9, 2012, 6:47 PM EDT) -- A labor union went public Tuesday with an objection to the reorganization plan of Solyndra LLC, saying private interests unfriendly to labor would unfairly take the lion's share of more than $300 million in tax credits in the solar panel-maker's politically charged bankruptcy.

Unite Here and its 250,000 members said they were taking the "unusual step" of publicly blasting the reorganization as currently contemplated because it shortchanges smaller creditors and the federal government in favor of Madrone Partners LP, a buyout firm set up by the...
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