Suntech Announces Grand Court of the Cayman Islands Grants Company's Application for Provisional Liquidation
Suntech Power Holdings (NYSE: STP) today announced that the Grand Court of the Cayman Islands, the jurisdiction of its incorporation, has granted the Company's application for a provisional liquidation. Restructuring professionals selected by the Company from PricewaterhouseCoopers have been appointed to work with the Company's Board of Directors to continue progressing a restructuring of the Company. The restructuring professionals will be appointed with the consent and support of the Company and the Board of Directors with the ultimate goal of achieving the Company's restructuring in the best interest of all stakeholders.
The restructuring professionals will commence working with the Company immediately.
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