April 10, 2013 / 11:51 AM / 5 years ago

Suntech's main European unit gets 2-month debt moratorium

April 10 (Reuters) - Chinese solar panel maker Suntech Power Holdings Co Ltd said its main operating unit in Europe had been granted a provisional two-month moratorium on debt repayments.

The company said in a statement judicial authorities in Switzerland had granted the moratorium to allow the unit, Suntech Power International Ltd, to restructure its debt.

The moratorium comes less than a month after a group of the company’s lenders dragged the company’s main manufacturing unit in China into insolvency proceedings.

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