Bankrupt Solar Firm SunPower Clears Hurdles to Chapter 11 Plan

A US bankruptcy court has resolved the remaining objections against SunPower’s Chapter 11 reorganization plan, according to court papers filed on Tuesday.

• The bankrupt solar firm’s debt plan was approved by the court on Oct. 18, but faced unresolved objections from insurers at the time
  • Under the plan, the estimated recovery for first lien secured creditors will be 8%, better than 4% in liquidation, court papers showed
  • Second lien secured creditors and unsecured creditors are estimated to recover zero
• The case is SunPower Corporation, 24-11649, US Bankruptcy Court, District of Delaware (Wilmington)
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  • Bankrupt Solar Firm SunPower Gets ...