Suniva, the solar manufacturer with headquarters in Georgia, is headed to bankruptcy court. The solar company influenced the Trump administration to levy tariffs on solar panel imports worldwide using Section 201 of the Trade Act of 1974, instigating the trade war that is now being played out in the geopolitical arena.
However, the company has been in bankruptcy since March 2017; it saw the 30 percent tariffs as the way to save jobs in the solar manufacturing industry — 260,000 people — and eliminate the threat from China and their cheap imports.
The solar industry, led by SEIA, the Solar Energy Industries Association, fought Suniva’s proposal, believing just the opposite would happen, that higher prices on imports would cause job losses.
In fact, although there have been many project cancellations, the job losses have not been severe. Suniva has not been active and manufacturing at its U.S. factories has been stalled for a year while in Chapter 11 bankruptcy and looking for a buyer.
To get around the US tariffs, JinkoSolar, a Chinese solar company, announced in March that it would spend $50 million to build a plant in Jacksonville, Florida. Suniva’s assessment of the tariffs’ impact was correct and the manufacturing industry is picking up.
In April, SunPower Corp, the largest US solar company, said it would acquire SolarWorld Americas, another manufacturer who also favored the tariffs. And First Solar Inc. also announced in April that it will open a new plant in Ohio.
However, Suniva’s fate has not turned around. Its largest creditor, SQN Capital Management, asked the bankruptcy court to allow it to sell assets it held as collateral on loans totaling $57 million at manufacturing plants in Saginaw, Michigan and Norcross, Georgia; these assets consist of the contents of the factories: printers, ovens, diffusers, conveyers and laminators as well as its patents and trademarks.
Wanxiang America Corp., a Chinese company that holds other assets, including much of Suniva’s equipment, joined SQN Capital Management in the late May auction.
“Chapter 11 is an option companies might pursue to hold off creditors while they draft a business plan to get out of bankruptcy,” said an attorney with Garden State Bankruptcy. “If a business cannot reorganize within a reasonable time period, this might be the best course of action. If they continue missing deadlines, auctioning off the company’s property, including equipment as well as intellectual property such as patents and trademarks in Chapter 7 can result, which will dissolve the company.”
If no reasonable offer is made at auction, Suniva’s creditors could buy the assets and own the company themselves, which is what happened — last week, SQN announced that it has released Suniva from bankruptcy and will restart operations soon.
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You are cordially invited to the Embassy of Austria for a thrilling evening with Mozart. What a better way to spend Christmas and Hannukah! Our full orchestra and lead singers, some of whom sing at the Met, will appeal to teens as they begin their journey to the classics! We expect to be sold out soon…..
Get your tickets now!
Under the Gracious Patronage of H.E. Petra Schneebauer, Ambassador of Austria
Julien Benichou, Conductor
Kevin Short as Figaro
Manna K. Jones as Susanna
Stephen Powell as Count Almaviva
Laquita Mitchell as Contessa
Anna Kelly as Cherubino
Maggie Polglaze as Barbarina
John Gibney as Bartolo
Leah Heater as Marcellina
Christopher Jon Hartung as Antonio & Don Curzio
Narration provided by Robin Phillips
Embassy of Austria
3524 International Court NW
Washington, DC 20008
Doors Open/Cocktails 6:30 pm
Performance including Intermission 7:15 pm
Wine Reception with Heavy Hors d’oeuvres 9:15 to 10:30 pm
Box Seats $250
Orchestra Reserved $150
Seniors (over 65 years old) Unreserved $80 [sold out]
Students with ID $50
Come solve a crime that took place in Takoma Park 130 years ago!
HouseMouse Books and Vintage is excited to announce the debut of Escape the Bookshop II, our new limited-run escape room experience. Escape the Bookshop II is a unique group puzzle game that is based on a real crime that took place in Takoma Park around 130 years ago. It is designed and created by HouseMouse to be played in our atmospheric little bookshop. This is not your typical corporate escape room and makes for a memorable evening out with friends or family!
Bookings are now open for game dates in January through April 2024. The game generally takes place Wednesday through Saturday at 8 PM but special arrangements can be made upon request. It is designed to be played by a group of 3 to 6 people (ages 16+) and lasts for one hour. No prior escape room experience is needed to enjoy the game.
Four talented storytellers. Four unbelievable stories. Three are true. One is false. Can you spot the liar? Listen. Laugh. Interrogate. Vote. And then brace yourself for the shocking truth!
Don’t miss the show that the Washington Post called “Storytelling at