Solyndra Gets Green Light For Ch. 11 Plan Over US Objection

Law360, Wilmington (October 22, 2012, 2:12 PM EDT) -- A Delaware bankruptcy judge on Monday gave her blessing to Solyndra LLC's reorganization plan, casting aside the U.S. government's protest that the plan's central goal was to secure valuable tax breaks for the defunct solar company's private equity investors.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the plan at a court hearing in Wilmington, Del., but granted the U.S. Internal Revenue Service a 10-day stay of her order to allow for an appeal.

The IRS had objected that the plan reorganizes Solyndra's parent as...
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