December 18, 2017 / 10:57 PM / 6 months ago

BRIEF-Phoenix Solar To File For Chapter 7 Insolvency Proceedings

Dec 18 (Reuters) - Phoenix Solar Ag:

* PHOENIX SOLAR INC. TO FILE FOR CHAPTER 7 INSOLVENCY PROCEEDINGS

* ‍SUBSEQUENT TO INSOLVENCY FILING OF PARENT COMPANY, ALL PENDING ORDERS AND CONTRACTS WERE CANCELLED BY RESPECTIVE CUSTOMERS​

* ‍MANAGEMENT OF PHOENIX SOLAR INC, US SUBSIDIARY OF CO, WILL FILE FOR INSOLVENCY PROCEEDINGS UNDER CHAPTER 7 OF US BANKRUPTCY CODE​

* ‍MANAGEMENT HAS DECIDED IMMEDIATE LIQUIDATION PROCEEDINGS WERE NECESSARY​ Source text for Eikon: Further company coverage:

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