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insolvency

Phoenix Solar starts insolvency proceedings

The insolvency proceedings of the German PV company have begun at the district court of Munich. According to the insolvency administrator, there is no hope for the parent company and its largest subsidiary in the United States.

Phoenix Solar’s newly appointed insolvency administrator in talks with potential investors

The lawyer Michael Jaffé has been appointed as insolvency administrator of the German PV project developer. He is already in talks with potential investors.

Phoenix Solar to file for insolvency in Germany

The construction contractor will start insolvency proceedings at the district court in Munich next week.

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Moser Baer Solar asks Indian central bank to postpone loan repayment

Troubled PV module supplier Moser Baer Solar (MBSL) has asked the Central Bank of India to postpone its loan repayment schedule on claims that its business prospects have been damaged by a deluge of cheap Chinese PV modules that have flooded into the Indian market.

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Appeals court upholds SolarWorld’s $800 million debt to Hemlock

The ruling comes as the German solar manufacturer is restarting following an insolvency process, and Hemlock may have a hard time collecting.

Solarworld’s insolvency administrator reaches agreement with investor

Solarworld Industries GmbH, for which the former CEO Frank Asbeck has been registered as managing director, wants to continue most of the cell and module production at its German facilities. The meeting of creditors must approve the agreement on Friday. The investors also take over the shares in foreign companies, but not in the US subsidiary of the German photovoltaic manufacturer.

SolarWorld enters insolvency

Almost three months after announcing provisional insolvency proceedings, the German module maker has now entered the insolvency process. The company, however, is currently negotiating with a potential investor for the takeover of its two German production sites.

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Reuters: Shareholder from Qatar may save SolarWorld

The Qatar Foundation is to be a prospective investor. SolarWorld’s provisional insolvency administrator refused to comment on the reports, but was optimistic that a short-term solution could be reached for two production facilities in Germany.

EU ProSun: SolarWorld insolvency “heavy blow” for European solar

EU ProSun has described the bankruptcy of SolarWorld as a “serious blow to the German and European solar industry.” The lobby group, which has long advocated for tariffs against Chinese solar modules, “deplored” the news of the German-headquartered manufacturer’s insolvency – in a statement released minutes after SolarWorld’s official announcement.

Breaking: SolarWorld insolvent

Pioneering solar PV manufacturer SolarWorld AG is insolvent. The company announced today it is “over-indebted” and would immediately file an application for insolvency.

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