LDK LDK United States subsidiaries are planning to apply for the 11th chapter of bankruptcy

Polaris solar PV net news: Cayman LDK LDK (LDKSolar) three of its United States subsidiaries would file for the 11th chapter of bankruptcy, supported attempts to restructure rather than closing the company.

LDK LDK joint provisional liquidators said LDK SolarUSA,Inc., LDK SolarTechUSA,Inc. and LDK SolarSystems,Inc. will be in the United States Bankruptcy Court for the 11th chapter.

United States 11th chapter bankruptcy means the company will try to reach a restructuring plan with its creditors, as the company continued to operate, may recover a higher proportion of investment over time.

Previously released documents show that if there are surplus assets in cash, very little Cayman LDK LDK, and must seek funding to continue our restructuring program in the Cayman Islands.

LDK LDK’s principal asset is still in China, unable to meet interest payments on bonds brought United States and Cayman Islands other than the litigation.

Original title: LDK LDK United States subsidiaries are planning to apply for the 11th chapter of bankruptcy

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