June 16, 2016 / 11:52 AM / a year ago

SunEdison sparring with shareholders amid 'hopeless insolvency'

Bankrupt SunEdison’s situation amounts to “hopeless insolvency,” and therefore its shareholders should not have an official committee representing them in its Chapter 11 case, the renewable energy company said in court papers.

SunEdison said in papers filed on Tuesday it faces more than $4.2 billion in prepetition claims, compared with $850 million it anticipates it can distribute after paying off its debtor-in-possession loan.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/1Ueu8qe

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