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Solar company SunEdison is on the verge of complete collapse, as the company was forced to stiff shareholders as its debts outweigh assets by at least $1 billion.
The company is hopelessly insolvent, Judge Stuart Bernstein said in a Thursday decision announcing SunEdisons shareholders wont get an official voice in the bankruptcy.
The judges decision came after a court fight aimed at showing the massive solar power company had enough money left to keep shareholders from avoiding financial ruin as a result of the bankruptcy.
Shareholders have lost money on their investments, and hope that an official committee will capture value for them in the end. The appointment of an Equity Committee, however, will not create value where…
Read the full article at: http://dailycaller.com/2016/08/12/hopelessly-insolvent-obama-backed-solar-company-on-verge-of-extinction/