Court Refuses to Replace Solyndra Management

EnergyReuters

A bankruptcy judge declined to appoint a trustee to replace the management of Solyndra LLC, who have refused to testify in Congress about the solar panel maker that filed for bankruptcy last month.

``I think it's clear this case does not rise to the level of failure to disclose that would mandate appointment of trustee,'' said Delaware bankruptcy judge Judge Mary Walrath,.

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The U.S. Department of Justice had requested the court appoint a trustee to replace management because the company's management was not forthcoming with information about contracts.

The company argued it has since been more willing to provide information and its chief executive, Brian Harrison, resigned on Oct. 7 and his duties were assumed by a consultant who specializes in restructuring.

The case is In re Solyndra LLC, U.S. Bankruptcy Court, District of Delaware, No. 11-12799.

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