Bankrupt solar panel maker Solyndra LLC defended its reorganization plan Monday against mounting criticism from the federal government, while launching a legal offensive against Chinese solar companies over what it deems unfair trade practices.
The Internal Revenue Service urged a bankruptcy judge to reject solar panel maker Solyndra LLC's bankruptcy plan Wednesday, saying it amounts to little more than an avenue for owners of an empty corporate shell to avoid paying taxes.
Two investment companies stand to receive hundreds of millions of dollars in tax breaks under a bankruptcy exit plan for failed solar company Solyndra, government lawyers say.
A California solar panel manufacturer that received a half-billion-dollar loan from the federal government before declaring bankruptcy says it's been unable to attract much interest from buyers willing to take over its operations.
U.S. taxpayers risk losing more than a half-billion dollars from the collapse of solar-panel maker Solyndra Inc., but former Massachusetts Gov. William F. Weld and his associates stand to earn a windfall in fees representing the bankrupt company in coming months.
