AP Business Writer
WILMINGTON, Del. (AP) – A Delaware bankruptcy judge has approved the sale of failed solar power company Solyndra’s former headquarters to Seagate Technology for about $90 million.
The judge approved the sale Thursday after Solyndra attorneys said the rights of three vendors who objected to the sale and have asserted disputed mechanic’s liens were being preserved.
Solyndra received a $528 million loan from the Obama administration to build the Fremont, Calif., headquarters.
Last month, the judge overruled government objections and approved Solyndra’s bankruptcy exit plan, under which taxpayers will recover little if anything.
Government lawyers are appealing that ruling, which allows two private equity funds that control Solyndra to potentially reap hundreds of millions of dollars in tax breaks after Solyndra emerges from bankruptcy, using the company’s net operating losses to offset future income.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
- 7 common ways to get sued by your employees
- Why it might be time to upgrade your toilet
- Arizona teachers are building a better future by using technology in the classroom
- How to make summer reading fun for the whole family
- How to find relief for chronic joint pain
- Can the NBA Lottery save the Suns?
- Skip Urgent Care: 5 ailments you can treat with telemedicine
- Skin Cancer in Arizona: Stats, facts and new immunotherapy drugs making strides
- Distracted walking injuries end up not so funny
- Scary situations: 5 quick tips before you let a contractor in your home
- Four ways telemedicine is changing the health care industry
- 5 mistakes homeowners make in the spring
- Three rivers run through it: Exploring Arizona's waterways
- Smart home basics: things you need to know to get started
- 5 Surprising things causing back pain
- Arizona agriculture is a $17.1B industry
- Timeline: Arizona's roots in brewing history
- 5 reasons to love the D-backs this season
- Tips for taking your home entertainment experience to the backyard
- Tech-related injuries your parents never experienced
- Workers comp: Signs your co-worker could be a fraud
- Who's the real founder of America's pastime?
- Epidemic rising? What you need to know about Alzheimer's in Arizona
- 5 unforgettable Wooden Award winners
- Family and hard work are keys to success of modern dairy farmers
- Genetic testing could hold answers for colon cancer survival
- Cold beers and baseball: A beer lover's guide to Spring Training
- Telecommuting: 5 tips to make it work for employers and employees
- See how top CFOs feel about economic growth in the Valley
- Migraine myths that keep patients from effective treatments