Satcon Lender Questions Ch. 7 Trustee's Recovery Plan

Law360, Wilmington (April 8, 2013, 10:33 PM EDT) -- Satcon Technology Corp.'s senior lender expressed doubts Monday about a proposal to temporarily revive operations at the bankrupt solar energy firm, saying the Chapter 7 trustee's plan to increase recoveries must be viewed in light of the company's previous inability to sell its assets.

Massachusetts-based Satcon filed for Chapter 11 in October but was forced to convert to Chapter 7 in February after failing to drum up an acceptable buyer, and Silicon Valley Bank — owed roughly $14.6 million as of the petition date — fears...
To view the full article, register now.