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SunEdison Sued by Spurned Latin America Power Shareholders

  • SunEdison canceled deal to buy Latin America Power last year
  • Shareholders want court to protect assets during arbitration
Updated on

Latin America Power BV shareholders sued SunEdison Inc., claiming the world’s biggest clean-energy developer is on the brink of bankruptcy and trying to hide assets.

The shareholders say they need a court order to protect SunEdison assets while they pursue a claim in arbitration for $150 million, which they say they’re entitled to after the U.S. company walked away in October from an agreement to buy Latin America Power.