Alternus scraps deal for 80-MWp solar project purchase in US
Sep 20, 2024 7:40 CESTNov 24, 2014 - Chinese photovoltaics (PV) maker LDK Solar Co Ltd (NYSE:LDK) said today that the Bankruptcy Court in Delaware has confirmed the prepackaged plan of reorganisation for the firm’s three US units.
LDK Solar USA Inc, LDK Solar Tech USA Inc and LDK Solar Systems Inc filed for Chapter 11 protection in Delaware last month. The troubled China-based maker of solar photovoltaic (PV) wafers, cells and modules itself filed a petition to reorganise under Chapter 15 after failing to make the August 2013 interest payment on its US dollar-settled senior notes, which reached maturity in February 2014.
In addition to the confirmation order, the US Bankruptcy Court has also entered one that recognises LDK’s provisional liquidation proceeding in the Grand Court of the Cayman Islands as a foreign main proceeding under Chapter 15. An additional order has also been issued to give full force to the Cayman Islands scheme of arrangement in the US.
These are the final rulings LDK needed before it could execute the documents with its creditors and then implement the international restructuring of its offshore liabilities, said Xingxue Tong, interim chairman, president and CEO of the company. LDK now has over USD 700 million (EUR 564.2m) of its offshore claims judicially approved for restructuring, he mentioned.
(USD 1.0 = EUR 0.806)
Alternus scraps deal for 80-MWp solar project purchase in US
Sep 20, 2024 7:40 CESTAspen Power monetises ITC credits from two-state PV portfolio
Sep 20, 2024 7:04 CESTAmmper Power to procure electricity from 50-MW solar park in Texas
Sep 20, 2024 5:46 CESTElawan bags Google PPA for 37-MW solar project in Texas
Sep 19, 2024 13:49 CESTWorld set to install 593 GW of new solar in 2024 - Ember
Sep 19, 2024 13:28 CESTVistra agrees USD 3.25bn buyout of zero-carbon energy unit
Sep 19, 2024 11:01 CEST