Hanergy's Solibro Hi-Tech system in liquidation

• With the opening of bankruptcy procedures, business procedures of the firm were stopped days earlier. No possible capitalist could be discovered to take control of business.

" The service procedures of Solibro Hi-Tech were ultimately terminated when the bankruptcy procedures were opened and all staff members were notified." That short declaration, provided to pv magazine by a spokesperson for bankruptcy manager Henning Schorisch, of law practice hww hermann wienberg wilhelm, the other day, verified the composing on the wall surface for German staff members at the device.

Late last month, a German bankruptcy court opened up normal bankruptcy procedures for the photovoltaic business, which comes from Chinese slim movie producer Hanergy.

Schorisch had actually unsuccessfully attempted to prepare a reconstruction of business throughout initial bankruptcy procedures because the beginning of the year.

" An M&A [merging and also procurement] procedure was established by the manager throughout the initial management however was, sadly, not successful," claimed the hww hermann wienberg wilhelm spokesperson.

End of the line

The absence of a white knight financier and also giving up of staff members suggests the business will certainly currently fold up. "In this regard, there is a liquidation of the business, there is no durable passion in taking control of the business," included the spokesperson.

A public statement of the bankruptcy procedures mentioned lenders might lodge their cases versus business till Monday. A conference of financial institutions has actually been scheduled March 31.

Prior to the collapse of Solibro Hi-Tech, the Solibro GmbH service had actually currently encountered monetary problems and also applied for bankruptcy, stopping company procedures in November when routine bankruptcy process opened up. That growth followed a duration of self-administration had actually stopped working to conserve business.

Chinese business Hanergy informed pv magazine in August, Solibro GmbH was not part of its team regardless of proof of the thin-film producer advertising its "Solibro" CIGS thin-film module brand name in business literary works after the factor when the Chinese team asserted to have actually bowed out the German system.