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Pachulski Stang Represents Evergreen Solar in Chapter 11 Case
Pachulski Stang Ziehl & Jones LLP is currently cocounsel to Evergreen Solar, Inc., in its chapter 11 bankruptcy case pending in the U.S. Bankruptcy Court for the District of Delaware. Evergreen Solar is a manufacturer of String Ribbon® solar-power products with its proprietary, low-cost silicon-wafer technology. The company’s patented wafer-manufacturing technology uses significantly less polysilicon than conventional processes and its products provide reliable and environmentally clean electric power for residential and commercial applications globally.
In connection with its chapter 11 filing, Evergreen entered into a restructuring support agreement with certain supporting noteholders. The noteholders have agreed to implement the restructuring to be effected through one or more sales of Evergreen’s assets pursuant to section 363 of the Bankruptcy Code, including the Company’s String Ribbon™ wafer technology business assets, and to support the costs of the bankruptcy case, including court approval of a plan of reorganization subsequent to the sale process. Evergreen will undertake a marketing process and will permit all parties to bid on its assets, as a whole or in groups.