Meyer Burger Close to Court Nod on Asset Sales Despite Weak Bids

A bankruptcy judge said he will approve two proposed sale transactions for solar manufacturer Meyer Burger’s US units, including a deal for nearly all their assets, though he noted it isn’t a “happy outcome.”

“I’m unsatisfied based on the record in front of me, but the sales are both the result of an appropriate process,” Judge Craig T. Goldblatt of the US Bankruptcy Court for the District of Delaware said during a hearing Thursday. “You play the hand you’re dealt, and sometimes it’s a better hand than other times.”

Waaree Solar Americas, an affiliate of the Indian solar panel manufacturer, ...