Debt restructuring of Suntech Power International under a dividend agreement
Lenz & Staehelin represented Suntech Power International Ltd (SPI), the Swiss subsidiary of the formerly largest solar module producer, in its financial restructuring in Switzerland. The restructuring was achieved by way of a dividend agreement under the Swiss Federal Act on Bankruptcy and Debt Enforcement which was approved by the majority of the creditors of SPI and the competent composition court in Schaffhausen. The dividend agreement will be implemented over the next coming months. SPI will continue to exist as a going concern.
The team is led by Tanja Luginbühl (Insolvency & Restructuring, Corporate) and includes Associates Roland Fischer, Eva Rüegg (Insolvency & Restructuring, Corporate), Dominique Müller (Litigation), Remo Decurtins (Employment) and Stephan Brandner (Tax).