Solyndra Battles IRS In Court Over Ch. 11 Plan

Law360, Wilmington (October 17, 2012, 10:12 PM EDT) -- Defunct solar energy company Solyndra LLC squared off with the U.S. government Wednesday in Delaware bankruptcy court, arguing that its reorganization plan makes the best of a bad situation for its private equity creditors and is not, as the government claims, a ploy to secure valuable tax breaks.

Officials from Solyndra and private equity investor Argonaut Ventures I LLC testified in support of the plan, while the U.S. Internal Revenue Service claimed the plan reorganizes Solyndra’s parent as a shell corporation solely to preserve some $350...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Solyndra, LLC


Case Number

1:11-bk-12799

Court

Delaware

Nature of Suit

Date Filed

September 6, 2011

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.