Verification Yingli parent firm investors will certainly be erased

• A filing made to the Securities as well as Exchange Commission today has actually validated holders of stock in Yingli Green Energy Holding Co Ltd will be left empty-handed a long time around completion of the month.

Investors in the moms and dad firm of Chinese solar supplier Yingli today got verification of long-anticipated news business will be liquidated.

A statement to the U.S. Securities and Exchange Commission (SEC) today-- where the Yingli moms and dad company is provided on the non-prescription Pink market-- specified the parent firm is anticipated to be liquidated at the end of the month after a request from its main Chinese procedure, Yingli Energy (China) Co Ltd

The statement said Yingli China had put on the Grand Court of the Cayman Islands to liquidate Yingli Green Energy Holding Co Ltd as bankrupt and also incapable to pay cash owed to Yingli China. The SEC filing said: "The Grand Court of Cayman Islands is expected to accept the request to sell off the business around completion of September."

In July, the Baoding Municipal Intermediate People's Court in Hebei district, China, consented to pack the management procedures for Yingli China with that of fellow Yingli Green Energy subsidiary Baoding Tianwei Yingli New Energy Resources Co Ltd and of Yingli China sub-companies Hainan Yingli New Energy Resources Co Ltd; Tianjin Yingli New Energy Resources Co Ltd; Hengshui Yingli New Energy Resources Co Ltd; and Lixian Yingli New Energy Resources Co Ltd

The administration would certainly look after a proposed restructure of those organizations aimed at keeping operations running, with financial institutions taking "regulating equity rate of interests" in the debtor systems plus brand-new funds from unnamed third parties, according to a declaration issued by Yingli at the time.

In terms of stock owners of the moms and dad business, today's SEC filing claimed: "The restructuring of these 6 business is anticipated to erase all equity interests in these companies, and also as a result the business [Yingli Green Energy] anticipates to endure a total loss of all of its straight and indirect financial investments in these business. Given the business's existing assets and also responsibilities, the company does not anticipate there will be any recurring assets for distribution to the company's shareholders upon conclusion of the company's liquidation. The business is anticipated to be dissolved upon completion of the liquidation procedure, which will be accomplished by the insolvency manager, and all impressive shares of the business, consisting of any kind of ADSs [American vault shares-- dollar denominated for the trading of international supply in the U.S.] standing for the firm's regular shares, are expected to be terminated for nil consideration upon completion of the firm's liquidation and dissolution process."