Satcon Gains Access To Cash Collateral In Ch. 11 Case

Law360, Wilmington (October 18, 2012, 9:58 PM EDT) -- A Delaware bankruptcy judge on Thursday signed off on Satcon Technology Corp.'s use of cash collateral and other first-day motions intended to keep the solar-power conversion company running as it attempts to streamline and reorganize in Chapter 11.

Satcon and its subsidiaries, which make and distribute inverters that convert solar power into direct current usable by the grid, enjoyed strong growth as solar projects boomed through 2011 but sought court protection in the face of a severe liquidity crisis resulting from a global market downturn....
To view the full article, register now.

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.