The petition, filed yesterday to a New York court by a group led by Trondheim Capital LLC, asks that Suntech be placed into Chapter 7 bankruptcy proceedings in the US, effectively a liquidation process.
Suntech has three weeks to respond to the petition, according to press reports.
Earlier this year Suntech became the first major Chinese company to enter bankruptcy proceedings in China – a development largely forced by Suntech’s Chinese creditors.
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