Solyndra Wants More Time To File Bankruptcy Plan

FREMONT (CBS / AP) – An East Bay solar panel manufacturer that received a half-billion dollar loan from the federal government before filing for bankruptcy protection is asking for more time to file a reorganization plan.

An attorney for Solyndra LLC told a judge in Wilmington, Del. earlier this month that he expected to file a bankruptcy plan within two or three weeks.

But the company is now asking that its exclusive rights to file a reorganization plan be extended for another 60 days. The exclusivity period is set to expire on Monday, but the company asked in court papers filed Thursday for an extension through the end of August.

Solyndra has been selling off its assets on a piecemeal basis after failing to find a buyer to operate the company.

(Copyright 2012 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

 

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