Suntech Power International extends definitive moratorium to June

By Angela McDaniels

Tacoma, Wash., Dec. 12 - Suntech Power Holdings Co., Ltd.'s principal operating subsidiary in Europe, Suntech Power International Ltd., has been granted an extension of its definitive moratorium on creditor claims from the judicial authorities in Schaffhausen, Switzerland, until June 19, 2014, according to a company news release.

On June 18, the company announced that Suntech Power International had been granted a definitive moratorium for a six-month period that could be extended.

The company said the extension allows Suntech Power International additional time to restructure its debt and reach an agreement with its creditors.

An involuntary Chapter 7 bankruptcy case was filed against Suntech, a Wuxi, China-based manufacturer and distributor of solar panels, on Oct. 14 in the U.S. Bankruptcy Court for the Southern District of New York. The Chapter 7 case number is 13-13350.

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