Satcon Supplier Makes $6M Asset Bid In Last-Minute Deal

Law360, Wilmington (May 29, 2013, 9:37 PM EDT) -- China-based Great Wall Energy on Wednesday reached an eleventh-hour deal to purchase the assets of shuttered solar firm Satcon Technology Corp. for $6.25 million, trumping a previous offer that had been teed up for a sale hearing in Delaware bankruptcy court.

Chapter 7 trustee Charles M. Forman had tapped American Energy Industries Inc. as the winning bidder following an April 29 auction and presented a sale motion for the court's consideration, but the announcement of the new deal pushed aside the previously scheduled agenda.

Advanced Energy's offer had been contingent on certain terms that had not been met, Great Wall attorney...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!