Tuesday, November 26, 2013

"Suntech Creditors Lobby for Bankruptcy in New York"

"The creditors, who say they have $1.5 million of the $541 million in matured 3 percent senior unsecured notes, point out how Suntech started a liquidation on Nov. 5 in the Cayman Islands. In the process, the company admitted it is insolvent, the creditors said.

Although Suntech operates in China and is incorporated in the Cayman Islands, the creditors contend Suntech has sufficient contacts with the U.S. to justify a bankruptcy in New York because the company raised at least $600 million in the U.S. debt markets."


Anonymous said...


Volume in the bonds has dried up.

Anonymous said...

It was a Bloomberg article. They are referring to the latest papers by the petitioning creditors, which are available on PACER.

Anonymous said...

Volume in the bonds was pretty decent this week - and at new low prices.

Obviously bonds aren't trading today because bond traders started drinking yesterday and won't be sober again until Monday or Tuesday.