Solar Co. Satcon Gets Nod For Credit Deal Over Objections

Law360, Wilmington (December 3, 2012, 8:04 PM EST) -- A Delaware bankruptcy judge approved a credit deal Monday between Satcon Technology Corp. and its primary manufacturer of solar-power converters, a deal the renewable energy firm says will allow it continue operations ahead of an anticipated Chapter 11 sale.

The settlement between Boston-based Satcon and China-based Great Wall Energy provides the former with up to $5 million in trade credit backed by a new top priority lien but faced opposition from solar firm's secured lenders, who objected the pact threatened their investments.

After hearing two days...
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