Bankrupt Energy Conversion Devices Inc. and its wholly owned unit United Solar Ovonic LLC have received a court's confirmation for their joint liquidation plan, Reuters reported yesterday. According to the plan, a trust will complete the liquidation of Energy Conversion and its unit's assets and distribute the cash to creditors of each company on a consolidated basis. Warranty claims will be settled by a warranty trust, which along with the liquidation trust will be managed by a committee of selected creditors. The confirmation order is expected to become final on Aug. 14, assuming there are no appeals before that time.
