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Solyndra Wins Bankruptcy Exit Plan Approval Over U.S. Objection

Solyndra LLC, the failed solar-panel maker that received a $535 million U.S. Energy Department loan guarantee before going bankrupt, won approval of its plan to exit court protection over government objections.

While Solyndra will be liquidated, its parent, 360 Degree Solar Holdings Inc., will exit court protection with so-called net operating loss carryforwards of as much as $975 million, which it may use against future income, according to court papers. The potential tax breaks may be as much as $341 million.