Great Wall Gets Nod To Buy Satcon Assets In $6M Deal

Law360, Wilmington (June 14, 2013, 8:49 PM EDT) -- A Delaware bankruptcy judge paved the way for Great Wall Energy to purchase assets of Satcon Technology Corp. for $6.25 million, signing off on a settlement between formerly feuding factions in the shuttered solar firm's 8-month-old case.

Great Wall, which was Satcon's equipment maker, and senior secured creditor Silicon Valley Bank reached the agreement late last month after having been at loggerheads for most of the company's bankruptcy, which began as a Chapter 11 but was converted after a going-concern buyer failed to emerge.

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