Suntech Power Holdings Files For Ch. 15 Protection

Law360, New York (February 25, 2014, 3:54 PM EST) -- Suntech Power Holdings Co. Ltd., formerly one of the world's largest makers of photovoltaic cells, filed for Chapter 15 protection in New York bankruptcy court Friday in an attempt to stop a group of creditors from forcing the company into an involuntary Chapter 7 liquidation.

Joint provisional liquidators David Walker and Ian Stoke asked New York Bankruptcy Judge Stuart M. Bernstein to recognize a bankruptcy action currently pending in the Cayman Islands as a foreign main proceeding, which would allow them to effectuate a complex restructuring...
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