US Bondholders Attempt To Force Suntech Into Ch. 7

Law360, Los Angeles (October 15, 2013, 4:57 PM EDT) -- Suntech Power Holdings Co. Ltd., whose main subsidiary has already initiated bankruptcy proceedings in China, saw a group of U.S. bondholders file a petition in New York bankruptcy court on Monday to force the solar panel producer into Chapter 7. 

The four bondholders, who collectively hold more than $1.5 million in Suntech bonds, filed an involuntary Chapter 7 petition on Monday, which gives Suntech three weeks to respond, according to court documents. The petition comes as Suntech, one of the world's largest manufacturers of solar panels,...
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