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Conergy Files for Insolvency as Banks Disagree on Investor

Conergy AG, once Germany’s largest solar-energy company, filed for insolvency today after one of 10 lenders rejected a short-term plan for an investor to take over loans held by the company.

As payments from a large project are delayed and the company failed to bridge a financial gap, executives submitted the application at the District Court of Hamburg, said Antje Stephan, spokeswoman for Hamburg-based Conergy.