Recently, LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKYQ) announced that the judge of United States Bankruptcy Court made the final decision by closing LDKYQ’s Chapter 11 and Chapter 15 Bankruptcy proceedings. These proceedings were pending on three subsidiaries of LDKYQ i.e. LDK Solar Systems, Inc., LDK Solar Tech USA, Inc., and LDK Solar USA, Inc.
Insights On The Matter:
As per the previous announcement on November 21, 2014, LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKYQ) received the enforcement of its Cayman Islands scheme of arrangement and recognition of the US government. Along with this, U.S. Debtors also received assurance of Chapter 11 plan of reorganization. It was the last step in the proceedings of US Bankruptcy law for US Debtors and LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKYQ). After the bankruptcy proceedings, there is no other issue pending between the firm and US debtors. Now as the proceedings are closed, the firm can focus on other important tasks and its growth plans to expand the business in other parts of the world and to take the advantage of prevailing market conditions.
The announcement made by the company with regard to this matter includes a forward-looking statement for the safe provisions of the U.S. Private Securities Litigation Reform Act of 1995. All other statements other than those, which include historical facts are to be considered as forward-looking statements. These statements include different risk and uncertainties, which were disclosed by LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKYQ) in its filings with SEC.
Due to these uncontrollable factors, the actual results may be different from the expected ones. LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKYQ) is not obligated to updated any of these statements for showing certain events or issues. Unless required by law, the company doesn’t intend to change its assumptions, expectations, and projections.
LDK Solar Co., Ltd (ADR) (OTCMKTS:LDKYQ) gained 188.57% in its last trading session and closed at $0.260