LDK Solar Announces Approval by Creditors of Cayman and Hong Kong Schemes

LDK Solar

There has been an update on the provisional liquidation of LDK Solar Co., Ltd.  LDK  is a vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar, through its operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar’s principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Provincein the People’s Republic of China. LDK Solar’s subsidiary office in the United States is located in Sunnyvale, California.

LDK’s  joint provisional liquidators (JPL), Tammy Fu and Eleanor Fisher, both of Zolfo Cooper Limited, announced that the class meetings of scheme creditors of LDK Solar and its subsidiaries, LDK Silicon & Chemical Technology Co., Ltd. and LDK Silicon Holding Co., Limited (together the Scheme Companies), convened pursuant to the orders of the Grand Court of the Cayman Islands and the High Court of Hong Kong on October 16, 2014 (Cayman Islands time) and October 17, 2014 (Hong Kong time), approved both the Cayman Islands and Hong Kong schemes of arrangement relating to the Scheme Companies.

The Cayman Court is scheduled to hear the petition in respect of the Cayman Islands schemes of arrangement on November 6, 2014 at 9:30 a.m. (Cayman Islands time), at which hearing the Cayman Court will determine whether or not to sanction the Cayman Islands schemes of arrangement. Similarly, theHong Kong Court is currently scheduled to hear the petition in respect of the Hong Kong schemes of arrangement on November 7, 2014 at 10:00 a.m. (Hong Kong time), at which hearing the Hong Kong Court will determine whether or not to sanction the Hong Kong schemes of arrangement.

 

 

 

 

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This post was prepared by Solar Thermal Magazine staff.