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LDK Solar Sued for $16M Loan Default in China -WantChinaTimes

LDK Solar (NYSE: LDK) has defaulted on a a $16 million loan and is being sued by the Shanghai Rural Commercial Bank, according to WantChinaTimes.

As of September 30, 2012, LDK has accumulated a non-current liability of $609 million, long-term borrowing of $513 million and a short-term loan of $1.3 billion.

Other solar firms are being affected by the credit crisis, which has been intensified due to overcapacity issues and the EU and US anti-dumping regulations.

Posted-In: WantChinaTimesNews Global

 

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