Law360, Wilmington (October 17, 2012, 6:13 PM ET) — Satcon Technology Corp. on Wednesday became the latest alternative energy firm to seek shelter in Delaware bankruptcy court, with the solar power-conversion company filing for Chapter 11 as it looks to preserve operations and resolve its liquidity crisis in the face of a global economic downturn.
The Boston-based firm provides utility-scale conversion units that link solar generation plants to the local power grid and filed for bankruptcy along with its six wholly owned subsidiaries, its petition listing assets of about $92.3 million against liabilities of $121.9 million as of June 30. Click here to read the full article from Law360.