Posigen Bankruptcy Judge Urges Company, Creditors to Negotiate

A Houston bankruptcy judge presiding over contentious proceedings for Posigen PBC urged the residential solar company and creditor groups to use the next few weeks to resolve mounting financial issues that threaten its chances of reorganizing.

Posigen’s Chapter 11 case could come to a “screeching halt” if the parties involved don’t reach broad agreements to stave off litigation over lender collateral and commingled funds, Judge Christopher M. Lopez of the US Bankruptcy Court for the Southern District of Texas said at a hearing Tuesday.

Lopez’s comments came at the close of a status conference on several motions Posigen has filed ...