Solar Millennium Units Seek Ch. 11 Amid Project Funding Woes

Law360, New York (April 2, 2012, 7:38 PM EDT) -- The U.S. subsidiaries of insolvent German solar developer Solar Millennium AG filed for Chapter 11 protection Monday in Delaware, after funding from the parent company for a multibillion-dollar solar power plant in California — one of the largest in the world — dried up.

Solar Trust of America LLC — a joint venture between Solar Millennium and Ferrostaal AG that serves as the holding company for most of the U.S. subsidiaries — filed for bankruptcy after missing a $1 million rent payment on the Blythe Project,...
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