Martifer Solar Slides Into Ch. 11, Blames Liquidity Woes

Law360, New York (January 22, 2014, 7:46 PM EST) -- Martifer Solar USA Inc. on Tuesday filed for Chapter 11 protection in Nevada bankruptcy court, citing a liquidity crisis brought on by substantially delayed payments to the renewable energy company.

Los Angeles-based Martifer — which specializes in solar engineering, procurement and construction services — said that as a result of its cash flow problems, it has become burdened with liabilities and indebtedness, which necessitates bankruptcy protection.

The company listed both assets and liabilities of between $10 million and $50 million.

Martifer said its largest secured creditor,...
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