Stirling Energy Systems can't find buyer, files Chapter 7 bankruptcy

By Caroline Salls

Pittsburgh, Oct. 3 - Stirling Energy Systems, Inc. filed Chapter 7 bankruptcy for liquidation on Sept. 22 in the U.S. Bankruptcy Court for the District of Delaware.

The company listed $1 million to $10 million in assets and $50 million to $100 million of debt, according to the filing.

According to the bankruptcy petition, Stirling failed to receive any bona fide offers for the purchase of the company and did not receive any leads that would result in a purchase offer in the foreseeable future.

In the filing, the company said its board of directors considered the failure to obtain purchase offers, Stirling Energy's financial condition and recommendations of senior management and advisers and decided to file a Chapter 7 bankruptcy case.

The company is represented by Young Conaway Stargatt & Taylor, LLP.

Stirling is a Scottsdale, Ariz.-based solar energy company. Its Chapter 7 case number is 11-12991.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.