PosiGen Fights Creditor Bid to Appoint Bankruptcy Case Trustee

PosiGen PBC urged a Texas bankruptcy judge to reject a creditor’s request for a trustee take over the residential solar company’s bankruptcy proceedings, saying past allegations of misconduct don’t justify such a drastic move.

Connecticut Green Bank has failed to show an urgent need for a change in control in PosiGen’s Chapter 11 case, which is being responsibly managed by an independent chief restructuring officer, the company said in a filing Wednesday with the US Bankruptcy Court for the Southern District of Texas.

PosiGen, which has faced backlash from solar project investors over its own admissions of mismanaged corporate cash ...