New Delaware Chapter 11 Filing – Suniva, Inc.
Suniva, Inc., a manufacturer of solar cells and solar modules based in Norcross, GA, has filed a petition for relief under Chapter 11 in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10837). Suniva’s petition reports $10 – $50 million in assets and $100 – $500 million in liabilities. According to the First Day Declaration, Suniva’s filing was caused by Suniva’s incurrence of significant debt as part of a planned expansion of its production facilities, coupled with downward pressure on solar cell prices caused by foreign competition. The case has been assigned to the Honorable Kevin Gross. The Garden City Group, LLC is the proposed claims agent.
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