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to-the-point LDK Solar exits US bankruptcy proceedings

Feb 20, 2015 – Chinese photovoltaics (PV) maker LDK Solar Co Ltd (OTCMKTS:LDKYQ) on Thursday announced the formal closure of the bankruptcy proceedings in the US for the company and three local units.

A judge at the US Bankruptcy Court for the District of Delaware has on February 18 entered final decrees closing the company’s Chapter 15 proceeding along with the Chapter 11 cases for LDK Solar Systems Inc, LDK Solar USA Inc and LDK Solar Tech USA Inc, according to a press release.

In December, LDK said it had completed the debt restructuring schemes for its Cayman Island and Hong Kong units.

LDK Solar defaulted on the August 2013 interest payment on its US dollar-settled senior note and later entered the bankruptcy process.

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