Suntech Urges Court To Throw Out Involuntary Bankruptcy
By Maria Chutchian
Law360, New York (November 7, 2013, 5:39 PM EST) -- Suntech Power Holdings Co. Ltd. on Wednesday made official its bid to throw out the involuntary Chapter 7 case a group of creditors filed against it in New York bankruptcy court, asserting that at least two of the creditors bought their claims for the express purpose of placing Suntech in bankruptcy.
Once the largest manufacturer of solar panels in the world, Suntech entered bankruptcy in China in March. In October, a group of four U.S.-based bondholders holding more than $1.5 million in Suntech bonds launched Chapter 7...