Solar Co. Owes $292M After Breaching Supply Deal, Suit Says

Law360, Los Angeles (April 26, 2013, 6:16 PM ET) -- Hemlock Semiconductor Corp. sued Pillar Group unit Global Sun Ltd. in Michigan federal court Thursday, accusing the Maltese company of breaching a supply contract to buy $292 million worth of material used to manufacture solar cells.

Hemlock said it terminated the contract Friday after Global Sun and its Spain-based guarantor Isofoton SA refused to pay for the polycrystalline silicon Global Sun bought for its multicrystalline silicon wafers, the building blocks of photovoltaic solar cells and modules.

"Global Sun agreed ... that it would 'take or pay'...
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