Thursday, October 17, 2013

Anybody Home At Suntech? ($STP)

Suntech has not put out a press release or 6-K filing since a group of judgment creditors and bondholders filed an involuntary bankruptcy petition on Monday.

Some companies might have let the market know immediately what is going on, the way other public companies like Mossimo or NRG did when involuntary petitions were filed against them.  

Meanwhile, we haven't heard from anyone who has gotten an answer at Suntech's number in San Francisco: (415) 882-9922.

A Credit Bubble Stocks honorable mention for anyone who is able to reach a Suntech employee working today.


Unknown said...


Anonymous said...

They never filed a 6-K when they were sued for bond default either.

Clearly they feel minority bondholders raising hell is not a material event.

There most be some negotiations in China if the two board members appointed by the majority bondholders have yet to resign.

Anonymous said...

It's not up to your own subjective "feeling" to decide whether an involuntary bankruptcy filing is material.

Anonymous said...

Who says they haven't resigned?

John said...

No legal claim against the company can be a "material" event when the company has no assets and no prospect of ever getting any!