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According to the US court dealing with the bankruptcy of Energy Conversion Devices and its wholly-owned subsidiary United Solar Ovonic, the majority of assets have been successfully sold, meaning the companies affairs can begin winding-up. Eligible voting creditors were said to have approved the actions.
In a statement from ECD, the company said that it had completed the sale of substantially all of the machinery, equipment and inventory held by both companies.
The sale of intellectual property, real estate holdings and interest in Ovonyx were said to be underway.