Suntech America creditor committee to hire FTI as financial adviser

By Kali Hays

New York, Feb. 25 – Suntech America, Inc.’s official committee of unsecured creditors asked for permission to hire FTI Consulting, Inc.as its financial adviser, according to a Feb. 24 motion with the U.S. Bankruptcy Court for the District of Delaware.

If approved, the hiring will be retroactive to Jan. 26.

The committee said FTI will assist in its review of Suntech’s overall financial state, short-term liquidity and any intercompany assets, along with providing analysis of any sale process, company claims and any Chapter 11 plan, according to the motion.

FTI employees associated with the case will be paid an hourly wage ranging between $125 and $925.

As previously reported, the committee is also looking to hire Sheppard, Mullin, Richter & Hampton LLP and Pepper Hamilton LLP as joint counsel.

A hearing to consider the hirings is set for March 17.

Suntech America is a San Francisco-based producer of solar panels that filed for bankruptcy on Jan. 12. The Chapter 11 case number is 15-10054.

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