07 Aug '17, 11am

The Section 201 Trade Case, Part II: In the Hands of DIPs

The Section 201 Trade Case, Part II: In the Hands of DIPs

This article is the second in a three-part series on the Suniva/SolarWorld trade case. The 201 trade case is being financed and organized by Suniva’s “Debtors in Possession” or DIPs. These firms want their money back. The 201 trade case is a desperate attempt to do just that. If you think DIP firms have the interests of former employees or American solar manufacturing workers at heart, you are sorely mistaken. In fact, back in May, the original Suniva DIP made an offer to the Chinese solar industry to withdraw the filing if the Chinese would pay them $55 million. Suniva appears to have no plans to restart its manufacturing operations. When a company files for a bankruptcy, the debtors take control of the business and assets as Debtors in Possession and provide funding to continue the operations or dispose of the assets. Suniva’s original DIP was SQN Asset Servicing, LLC (“...

Full article: http://www.renewableenergyworld.com/articles/2017/08/the-...

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