Chapter 11 plan for LDK subsidiaries

Share

Beleaguered Chinese solar giant LDK Solar has signalled its intention to start Chapter 11 bankruptcy proceedings for three of its U.S. subsidiaries.

Holders of LDK 10% senior notes due this year will vote, by October 15, on whether to start the bankruptcy process for LDK Solar USA, LDK Solar Tech USA and LDK Solar Systems Inc.

The bankruptcy proceedings form part of the Cayman Islands-registered company's attempts to reorganize its offshore operations through ‘schemes of arrangement'.

The prospective reorganization of the heavily indebted LDK Solar, and subsidiary LDK Silicon and Chemical Technology, will be voted on by creditors on October 16 (Cayman Islands time) and 17 (Hong Kong time).

The reorganization plan will be heard by the Grand Court of the Cayman Islands on November 6.

The next court date for LDK Solar, which is in provisional liquidation, is on Tuesday, when the High Court of Hong Kong will hear the reorganization plans of the company, together with LDK Silicon and LDK Silicon Holding Co.

Popular content

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.

Share

Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.