“Trading in the Company's American Depositary Shares will be suspended prior to the opening on Monday, November 11, 2013. “
- So trading will be suspended prior to Monday.
- The NYSE will then “commence proceedings to delist the American Depositary Shares of Suntech Power Holdings Co., Ltd. – ticker symbol STP – from the NYSE.” During this time they can appeal.
Can anyone post a link to the legal filing? They are moving to dismiss. Under what grounds? Which of the plaintiffs' accusations are in doubt? Do they have any chance in front of a bankruptcy judge?
STPHU; I couldn't resist.
ReplyDeleteDon't do a victory lap.
ReplyDeleteCompany is on the ropes but not down just yet.
Never know what's next with these guys...
= They can and will appeal - further delaying the inevitable.
ReplyDeleteEven if STP appeals the delisting, they will still be delisted on Monday? Or will they be delisted once the appeal has been denied?
ReplyDelete“Trading in the Company's American Depositary Shares will be suspended prior to the opening on Monday, November 11, 2013. “
ReplyDelete- So trading will be suspended prior to Monday.
- The NYSE will then “commence proceedings to delist the American Depositary Shares of Suntech Power Holdings Co., Ltd. – ticker symbol STP – from the NYSE.” During this time they can appeal.
True to form, they are contesting both the chapter 7 petition and the NYSE delisting.
ReplyDeletehttp://blogs.wsj.com/chinarealtime/2013/11/07/sun-sets-on-suntechs-u-s-listing/?mod=yahoo_hs
Can anyone post a link to the legal filing? They are moving to dismiss. Under what grounds? Which of the plaintiffs' accusations are in doubt? Do they have any chance in front of a bankruptcy judge?
Never know what's next with these guys...
ReplyDeleteMaybe they'll charter a boat to go out and fin some sharks.
STPFQ
ReplyDeletehttp://www.scribd.com/doc/182363157/SDNY-Bk-Doc-12-MOL-in-Support-of-Dismissal
ReplyDeleteBonds just traded 15.
ReplyDelete