Having been granted a provisional liquidation order in the Cayman Islands, Suntech Power Holdings has also appointed PricewaterhouseCoopers to support its restructuring efforts.
Suntech Power Holdings was forced to seek protection against a small group of US bondholders, seeking repayment after the company defaulted on a US$540 million bond earlier this year.
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Legal documents highlight that Suntech Power Holdings has few assets, except PV power plants in Italy, under a subsidiary, Global Solar Fund that has also been the centre of investigations into illegal feed-in tariff payments.
The company will also be de-listed from the NYSE.
