Introduction
'Frivolous or vexatious' test
'Strong prima facie case' test
Applying the same test for leave
Receiver's appointment and discharge orders
Comment
ECOtality, an electric vehicle charging station manufacturer and a recipient of 2009 stimulus package Department of Energy grants, filed for bankruptcy on September 17. The company received $100.2 million in grants, but the Department froze the remaining $2.5 million in grants on August 8.
On March 20, Suntech, a Chinese solar manufacturing company, declared bankruptcy. Questions have arisen on how the country’s solar industry will now cope with overcapacity issues which stem from a decline in demand from Europe. The declaration comes a week after the company announced it had defaulted on $541 million of bonds.
Introduction
Receivership and OSC proceeding
Production by court-appointed receivers
Not the right forum
Comment