Solar Bankruptcy Trustee Sues For $950 Million


The trustee in bankruptcy for Energy Conversion Devices, parent of United Solar of Greenville, is suing three Chinese solar panel companies. The allegations filed in Federal District Court in Detroit against Trina Solar Ltd, Yingli Green Energy Holding Co., and Suntech Power Holdings include conspiracy, price fixing, and dumping solar panels at below cost prices. The trustee is claiming that the actions of these three companies prevented a Chapter 11 reorganization of United Solar and ultimately led to its forced liquidation. The $950 million damage claim is the book value of the company's assets at the time of the bankruptcy filing.

Topics:  Chapter 11, China, Commercial Bankruptcy, Solar Energy, Trustees

Published In: Antitrust & Trade Regulation Updates, Bankruptcy Updates, Energy & Utilities Updates, International Trade Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Varnum LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »