Posted on 10/22/2014 4:56:24 PM PDT by DeaconBenjamin
NANCHANG, Oct. 22 (Xinhua)-- China's leading solar firm LDK Solar Co., Ltd filed for bankruptcy protection in the United States Wednesday as a key step for the troubled company's overseas debt restructuring.
The company started its overseas debt restructuring in Cayman Islands via provisional liquidation in February to resolve its offshore liquidity issues. The plan involves its subsidiaries in Cayman Islands, Hong Kong and the United States.
The overseas debt restructuring will be completed this year, said Peng Shaomin, a spokesperson for the photovoltaic products manufacturer based in Xinyu, east China's Jiangxi Province.
LDK Solar successfully listed in New York in 2007.
The company suffered a loss of 1.3 billion yuan ( 211 million U.S. dollars) in 2013, compared with the loss of 4.3 billion yuan in 2012, according to a report issued by the Jiangxi commerce and industry association last month.
What's a few hundred mil when your trying to save the erf?
I think this gives credence to the concept of dumping.
They were selling at a loss and knew it, but may have been given approval from government to do so.
My prediction: in the not too distant future, having panels on your roof will be a source of ridicule, shame and pity. It will lower your house value.
So they bankrupted themselves trying to bankrupt everyone else.
Bankruptcy probably wouldn’t have been as likely for them, if they’d gotten UL or ETL listings for the hardware.
Solyndra’s bankrupture with the 535 million dollars of tax payer’s money fleeced was blamed on China completion and brushed off as a cost of progress with some losers to be expected.
How’s that green thing going anywhere? not just in the obamahood.???¿
“My prediction: in the not too distant future, having panels on your roof will be a source of ridicule, shame and pity. It will lower your house value.”
Especially as the rain water leaks start up due to the crappy installations.
Mr. Crist, Mr. Charlie Crist, Please pick up the white courtesy phone! Will the Scott campaign capitalize on this news? Of course not, he was on the “me too” wagon for getting rid of coal in that horrible debate.
““My prediction: in the not too distant future, having panels on your roof will be a source of ridicule, shame and pity. It will lower your house value.”
Especially as the rain water leaks start up due to the crappy installations.”
I have wondered why no one has considered designing solar shingles, where the panels would actually BE the roofing. It wouldn’t be easy to make practical/cheap, but I never thought I would see a good $10.00 60-watts of brightness LED light bulb in my lifetime, either - and as a boy, I bought a very dim, experimental LED lamp in a gold-plated transistor case with a glass lens for five 1970 dollars.
I wouldn’t write solar off, at least not in certain areas of the world.
Theyre too big to fail. We gotta subsidize them. /s
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