Chinese solar panel maker Suntech Power Holdings Co. is fighting to dismiss the involuntary bankruptcy petition filed against it in U.S. federal court, arguing that the move from a handful of disgruntled bondholders threatens negotiations meant to help repay them, Dow Jones Daily Bankruptcy Review reported today. In court papers filed on Wednesday, Suntech officials said that the involuntary chapter 7 bankruptcy, which was filed by several U.S. bondholders on Oct. 14, is complicating talks that could lead an investment firm backed by a local government in China to invest $150 million in Suntech.
