Suntech to challenge involuntary bankruptcy petition
Oct 31 (Reuters) - Suntech Power Holdings Co Ltd said it intended to challenge a petition for involuntary bankruptcy filed against it in the United States by some bondholders.
A group of four bondholders holding about $1.6 million of the company's 3 percent convertible senior notes due 2013 made the filing under Chapter 7 of the U.S. Bankruptcy Code.
Suntech defaulted in March on a payment on its $541 million convertible bonds, prompting its main manufacturing unit, Wuxi Suntech, to file for bankruptcy protection in China five days later.
Suntech said it had until Nov. 6 to respond to a filing made in the U.S. Bankruptcy Court in the Southern District of New York.
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