Solar Co. Satcon Spars With Lenders Over Ch. 11 Deal

Law360, Wilmington (November 29, 2012, 10:40 PM EST) -- Renewable energy company Satcon Technology Corp. appeared in Delaware bankruptcy court Thursday seeking approval of a settlement with the manufacturer of its solar power converters, a pact that the company says is vital to its economic survival but that secured lenders claim endangers their liens.

Satcon filed for Chapter 11 in the face of a cash crisis. The proposed deal with China-based Great Wall Energy, which is also the company's largest unsecured creditor, would provide the liquidity it needs to continue operations while it seeks a buyer, according to the...
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