Solyndra, the solar panel maker that failed despite a $528 million federal loan, won court approval yesterday for its plan to repay creditors and end its politically charged bankruptcy after a judge overruled objections by the U.S. government, Reuters reported. Bankruptcy Judge Mary Walrath rejected the government argument that the plan was improper because its main purpose was to provide tax breaks. Venture capital firms Argonaut Private Equity and Madrone Capital Partners will control Solyndra's tax breaks, known as net operating losses (NOLs) that are potentially worth $341 million after the bankruptcy. "It is clear in this case the bankruptcy and the reorganization dealt with many other things than the value of the NOLs or the preservation of the NOLs," Judge Walrath said.
