Solyndra's Ch. 11 Plan Lacks Info, US Trustee Says

Law360, Wilmington (August 29, 2012, 5:51 PM EDT) -- The U.S. trustee on Tuesday urged a Delaware bankruptcy judge to reject Solyndra LLC's proposed disclosure statement, saying it lacks crucial information concerning the one arm of the defunct solar-panel maker slated to survive under the plan.

While Solyndra's Chapter 11 plan appears to be a liquidation, U.S. Trustee Roberta DeAngelis said in her objection, it is premised around the reorganization of affiliate 360 Degree Solar Holdings Inc., which would retain valuable tax attributes and exit bankruptcy free of debt even as the rest of the...
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