Two major investors who bought some of the $540 million worth of U.S. bonds issued by Chinese solar-panel maker Suntech Power Holdings Co. are fighting a bid by a smaller group of bond investors to force the company into bankruptcy, Dow Jones Newswires reported today. Investment firms Clearwater Capital Partners LLC and a Spinnaker Capital Group affiliate told a bankruptcy judge on Monday that allowing the chapter 7 bankruptcy for Suntech to move forward would result in a smaller recovery than under the restructuring plan that's in the works for the company, which was once the world's largest solar panel maker, according to papers filed in U.S. Bankruptcy Court in Manhattan.
