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Despite Fed Protests, Court OKs Solyndra Bankruptcy

Government may appeal decision

By Evann Gastaldo,  Newser Staff

Posted Oct 22, 2012 12:46 PM CDT

(Newser) – Failed solar company Solyndra got court approval for its bankruptcy plan today—despite objections from the US government. The government had accused the plan of providing $341 million in improper tax breaks for investors, but a judge said the government didn't prove that the main goal of Solyndra's bankruptcy plan was to provide said tax benefits. An IRS attorney says the government may appeal, Reuters reports.

In this Sept. 16, 2011 file photo the Exterior of solar-panel manufacturer Solyndra is seen in Fremont, Calif.
In this Sept. 16, 2011 file photo the Exterior of solar-panel manufacturer Solyndra is seen in Fremont, Calif.   (AP Photo/Paul Sakuma,File)
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COMMENTS
Showing 3 of 8 comments
serfinWI
Oct 23, 2012 7:13 AM CDT
Hmmm, Bush bailsout GM, Obama uses it to pay off his union gangsters, saying NO, NO, not bankruptcy!!! And how much does GM owe taxpayers. why not gov't bailout of Solyndra?  Why? NO UNION.  Where did all that "stimulus"=investment money go?  Down the Obama drain.
B-Diddy
Oct 22, 2012 4:22 PM CDT
WTF ????????? How come they are not Auditing the files of the company? How much did  the CEO and top Execs make in salaries and Bonuses? Almost $1 BILLION's missing?
milo7453
Oct 22, 2012 3:28 PM CDT
despite objections from the US government? Too funny...The objection should have come BEFORE they gave $500 million of our money.
Money • US

 
taxes • IRS • Internal Revenue Service • Solyndra

 
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