Update: Germany's fallen PV star Q-Cells to file for insolvency

Q-Cells intends to file for insolvency proceedings on Tuesday (3 April), after the German PV group formally acknowledged that it is no longer possible to escape the noose that has been tightening around its neck for several years.

The final straw for the company – the world’s largest maker of PV cells only a few years ago – came in the form of a ruling in Frankfurt’s Higher Regional Court against Pfleiderer, a totally unrelated company that makes building materials.

Pfleiderer intended to force its bondholders to trade the debt they hold in the company for an equity stake. In February, Q-Cells outlined plans for its own debt-for-equity swap affecting holders of bonds due to mature in 2012, 2014 and 2015.

But the court ruled that bonds Log in to read complete article.

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