SiC Processing AS, a subsidiary of Germany's SiC Processing GmbH in Norway, will petition for insolvency at the Norwegian Porsgrunn district court.
No date on when the petition will occur was given. However, since SiC Processing’s only customer, REC Wafer, filed for insolvency this summer, the company began a solvent winding-up with the consent of its major creditors. Certain creditors have chosen not to maintain their consent, which is necessary for a solvent wind-up.
In November, the company announced that it was unable to pay its creditors, but, at the time, had received a deal to delay payments to major creditors until 28 February 2013.