China to postpone Suntech restructuring filing date

The submission date of struggling solar manufacturer Suntech Power’s (STP.NYSE) restructuring has been postponed until December 20, Financial Times reported, citing an official from the Wuxi Intermediate People’s Court. The delay comes even as a court in Italy ordered the seizure of solar farms belonging to Global Solar Fund (GSF), which was controlled by Suntech. The 37 GSF plants had constituted 21% of the fund’s capacity, Suntech said this week. Suntech Power, once the world’s largest producer of solar panels, said in March that its main unit in Wuxi, China, had been declared bankrupt, shortly after the US-listed entity defaulted on its own bonds.