The Chinese PV company, which is preparing to move its headquarters to Changzhou city this month, has revealed details of the legal dispute which prompted its auditor to resign a fortnight ago.
Now Chinese state-owned, the developer appears to want to draw a line under a traumatic two-year period which saw its fortunes reversed in dramatic fashion. Effectively now part of China’s Shuifa construction conglomerate, the proposed new name is intended to reflect the fact.
There was unanimous approval at a vote on the debt reorganization plan put before creditors in Hong Kong today and now it remains only for the scheme to be rubber-stamped in the territory – and in Bermuda – before the task of rebuilding the soon-to-be-state-owned business can begin.
Shareholders in the heavily-indebted solar project EPC and building-integrated PV manufacturer will vote on the last day of the month on the proposed takeover of the business by a Chinese state-backed entity. No news has emerged of a winding-up order due to be heard yesterday.
The High Court has approved plans for the Chinese state-owned power company to reassume control of its Hong Kong-listed solar project development business.
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.