Worldwide Energy Seeks Ch. 11 Protection

Law360, New York (July 8, 2013, 6:57 PM EDT) -- San Francisco-based Worldwide Energy & Manufacturing USA  Inc. filed for Chapter 11 protection Friday in Colorado bankruptcy court, a move that follows the solar panel producer's recent settlement with the U.S. Securities and Exchange Commission over allegations that it defrauded investors of $9 million.

Worldwide's bankruptcy filing is the latest in recent troubling developments for the company, which is headquartered in San Francisco but has a majority of its operations in China. The Chapter 11 petition lists a maximum of 49 creditors and provides a list...
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.