Taking its lead from the US government’s previous investigation and findings in respect to anti-dumping and anti-trust claims, the liquidation trustee for failed flexible thin-film manufacturer, Energy Conversion Devices, is pursuing large China-based PV manufacturers such as Yingli Green for damages totalling US$950 million.
ECD’s representatives have filed a filed an antitrust and unfair trade practices lawsuit against Yingli in the US District Court for the Eastern district of Michigan.
This follows the collapse of Solyndra and a similar suit claiming US$1.5 billion that targeted Suntech Power Holdings, Yingli Green and Trina Solar.
Commenting on the latest suit, Robert Petrina, managing director of Yingli Green Energy Americas, dismissed the claims.
“We are still reviewing the filing, but at first glance these are baseless claims that seem similar to the Solyndra antitrust case. In both instances, the companies are bankrupt and appear to be blaming others for their own failed thin-film technology and flawed business models.
“We will continue to aggressively defend ourselves and expect that Yingli will prevail in both cases.”
Liquidation trustees of Energy Conversion Devices and Solyndra have been selling the assets of the firms to compensate creditors; however losses accrued significantly outweighed assets.