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SunEdison to file for bankruptcy protection?
Struggling solar company SunEdison is said to file for bankruptcy protection in the coming weeks.
US-based SunEdison is preparing to seek Chapter 11 protection, writes The Wall Street Journal, citing people familiar with the matter. The company warned in March it had been unable to file its annual financial results after a former executive alleged the incorrect disclosure of the company’s liquidity.
Furthermore, SunEdison received a subpoena from the U.S. Department of Justice seeking details related to its failed acquisition of Vivint Solar and transactions involving TerraForm Power and TerraForm Global (March 31, 2016).
