Solyndra Requests More Time To File $900M Ch. 11 Plan

Law360, New York (March 30, 2012, 1:31 PM EDT) -- Government-aided solar panel maker Solyndra LLC on Thursday asked a Delaware bankruptcy court for more time to file a Chapter 11 reorganization plan because of its daunting $900 million debt and inability to find a turnkey buyer to take over its assets.

Having abandoned its hopes of finding a single buyer to acquire assets including its manufacturing plant and land, leases, operating equipment and intellectual property, and needing more time to complete its liquidation, Solyndra filed a motion asking U.S. Bankruptcy Judge Mary Walrath to extend...
To view the full article, register now.