Judge Greenlights Backup Auction For Solyndra Assets

Law360, Wilmington (December 21, 2011, 2:10 PM EST) -- A Delaware bankruptcy judge on Wednesday approved Solyndra LLC's backup plan to auction its assets piecemeal in the event that the embattled solar panel maker fails to sell the business intact.

Solyndra 's $535 million government-backed loan has ignited a fierce debate on Capitol Hill over the Obama administration’s efforts to promote clean energy, and the company is still holding out hope to find a buyer for the business as a going concern, a so-called "turnkey" sale that would allow the company to rehire some of...
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