LDK Solar's chapter 15 bankruptcy proceedings as well as the chapter 11 bankruptcy proceedings in the US have been concluded with the majority of bondholders agreeing to a complex debt for stock swap and a convertible debt scheme due in 2018.
However, LDK Solar remains heavily debt laden with at least US$2 billion owed to a number of Chinese banks.
Through two investment vehicles, the billionaire owner of Shunfeng, Zheng Jianming, has almost a 30% stake in LDK Solar.
LDK's financial saga began in 2013 after it struggled to honour payments on an offshore bond. The company eventually entered bankruptcy proceedings last year, during which time it was delisted from the New York Stock Exchange and saw its founder and chairman, Xiaofeng Peng, step down from his role.