Solyndra Files Ch. 11 Plan Including Minimal Payback To Gov't

Law360, Wilmington (July 30, 2012, 4:38 PM EDT) -- Bankrupt solar panel maker Solyndra LLC on Friday filed its Chapter 11 reorganization plan, which provides minimal, if any, payback for the $535 million government loan guarantee that has come to frame the rancorous debate on Capitol Hill over U.S. efforts to promote clean energy.

The plan — sponsored by secured lenders Argonaut Ventures I LLC and Madrone Partners LP — will repay only a fraction of the $900 million owed to creditors, but it does incorporate settlements that will allow unsecured creditors a nominal recovery,...
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