South Bay News

Solyndra to repay creditors

Monday, July 30, 2012
White house knew of Solyndra layoff plans

An auction sign is shown at bankrupt Solyndra headquarters in Fremont, Calif., Monday, Oct. 31, 2011 before Wednesday's auction. Solyndra received a one half billion dollar loan guarantee from the government before filing for bankruptcy in Sept. 2011. (AP Photo/Paul Sakuma)

Solyndra has filed its plan for repaying its creditors.

The Fremont-based solar panel maker defaulted on a half-billion dollar federal loan last September and declared bankruptcy. It triggered an FBI investigation and sharp criticism of the White House for approving the loan.

The Chapter 11 filing will place Solyndra's assets in a trust fund that will oversee their distribution.

(Copyright ©2014 KGO-TV. All Rights Reserved.)

Get more South Bay News »


Tags:
solyndra, solar energy, fremont, barack obama, bankruptcy, south bay news
blog comments powered by Disqus
Advertisement