Bank sues LDK Solar over loan repayments, reports say

Reports in China say LDK Solar has been sued by Shanghai Rural Commercial Bank for overdue loans, deepening concerns about the future of the Chinese PV wafer giant.

The bank sued LDK after the two parties were unable to bridge a dispute before a court hearing scheduled for last week, according to Chinese media.

The overdue portion of the loans amounts to 100m yuan ($16m) – a nearly insignificant amount when set against the $255.8m LDK lost during the first two quarters of the year.

Yet the lawsuit represents another headache – and more bad press – for a company widely believed to be among the most challenged of all top-tier Chinese PV manufacturers.

LDK made its name as a supplier of…

Become a Recharge subscriber!

Or try our free trial.

Order Subscription

Already a member?

Login