Liquidators for LDK Solar, Zolfo Cooper have requested the New York Stock Exchange (NYSE) change its decision to de-list its American depositary shares (ADS).
The liquidators believe the de-listing should not go ahead as planned due to the on-going restructuring proceedings of the company in the Cayman Islands.
LDK Solar’s ADSs are trading on the 'over the counter' OTCQB market while trading is suspended on the NYSE. A final decision by the NYSE is expected within the next 60-120 days, according to Zolfo Cooper.
The complete de-listing of LDK Solar’s ADSs could impact restructuring plans with creditors and bondholders.