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...
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