SuntechPower Holdings, the rump of the once-mighty Suntech empire, says that on 27January the High Court of Singapore granted a Judgment in Default of Appearanceagainst Suntech Singapore for the full amount it had demanded – some $264m pluscosts, with interest set at 5.33%.
SuntechSingapore had not appeared to contest the claims, Suntech Power Holdings says.
SuntechSingapore was owned by a subsidiary of Suntech Power Holdings until it wasostensibly bought by Jiangsu Shunfeng Photovoltaic, as part of Shunfeng’sblockbuster but as-yet-unfinished acquisition of Wuxi Suntech, themanufacturing unit of Suntech.
SuntechJapan,
