IRS Appeals Solyndra Ch. 11 Plan Over PE Tax Breaks

Law360, Wilmington (November 2, 2012, 12:14 PM EDT) -- The Internal Revenue Service on Thursday appealed a Delaware bankruptcy judge’s approval of Solyndra LLC’s Chapter 11 plan, continuing to press its claim that the plan is improperly focused on securing valuable tax breaks for the defunct solar company’s private equity investors.

The federal government — which, through the U.S. Department of Energy, extended to Solyndra a $535 million loan that is unlikely to be repaid at all under the plan — lodged its appeal in the U.S. District Court for the District of Delaware, according...
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