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Bankrupt Solyndra Seeks $4M DIP Extension, Quick Sale

Law360, New York (September 26, 2011, 4:42 PM EDT) -- Solar energy company Solyndra LLC asked a Delaware bankruptcy judge on Monday to grant a $4 million extension of its debtor-in-possession loan and confirm a scheduled auction of its assets next month, over the objection of creditors.

The motion countered a request from unsecured creditors to push back a planned Oct. 28 auction of assets held by the company, whose Sept. 6 bankruptcy filing sparked congressional and criminal investigations, and raised concerns about the financial future of solar energy.

Solyndra said postponing the sale would burn...
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