Suntech Seeks New Cash After China Bankruptcy, Liquidator Says
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Suntech Power Holdings Co., the Chinese solar panel maker that’s in bankruptcy proceedings, is seeking as much as $150 million to revive its business, according to its court-appointed liquidators.
Suntech plans to seek $100 million to $150 million of working capital from a strategic investor over the next six to nine months, said David Walker, one of the company’s two provisional liquidators. The focus is to develop the retail solar business in the U.S., Japan and Europe after losing its main manufacturing assets in China, he said.