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Solar Bankruptcy Trustee Sues for $950 Million

The trustee in bankruptcy for Energy Conversion Devices, parent of United Solar of Greenville, is suing three Chinese solar panel companies. The allegations filed in Federal District Court in Detroit against Trina Solar Ltd, Yingli Green Energy Holding Co., and Suntech Power Holdings include conspiracy, price fixing, and dumping solar panels at below cost prices. The trustee is claiming that the actions of these three companies prevented a Chapter 11 reorganization of United Solar and ultimately led to its forced liquidation. The $950 million damage claim is the book value of the company's assets at the time of the bankruptcy filing.

© 2021 Varnum LLPNational Law Review, Volume III, Number 308
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About this Author

Bruce Goodman, Environmental lawyer, Varnum
Counsel

Bruce practices energy law, environmental law, and construction law. His energy background includes negotiating electric power sales agreements (both for wholesale sellers of energy and for retail consumers of energy) state electric rate cases, developing municipal energy tariffs, and energy project structuring and permitting. For years, he published a blog focused on alternative energy developments in Michigan. Most recently he has been involved in various alternative energy projects, including wind energy, biofuels and solar projects.

His environmental experience includes air...

616-336-6574
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