New resignations rock China's Trony

The future darkened for troubled Chinese thin-film manufacturer Trony Solar after its three independent non-executive directors resigned simultaneously, leaving it short of the number required by the Hong Kong Stock Exchange.

All three directors to resign – Lai Yat Kwon, Woo Chia-Wei and Che Shujian – were also members of other committees within Trony, including the critical audit committee.

All explained their departure by saying they had “inadequate time” to handle their duties due to the “heavy workload” demanded by the Independent Review Committee.

The upper ranks of Trony, China’s leading maker of amorphous silicon (a-Si) thin-film PV cells, have been decimated since the board announced it had uncovered "possible discrepancies" in the company's financial records in June 2012.

Shares of Hong Kong-listed…

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