LDK Solar Announces Approval by Creditors of Cayman and Hong Kong Schemes
GEORGE TOWN, Cayman Islands, XINYU CITY, China and SUNNYVALE, Calif., Oct. 17, 2014 /PRNewswire/ -- LDK Solar Co., Ltd. in provisional liquidation ("LDK Solar" or the "Company") and its Joint Provisional Liquidators ("JPLs"), Tammy Fu and Eleanor Fisher, both of Zolfo Cooper (Cayman) Limited, today announced that the class meetings of scheme creditors of LDK Solar and its subsidiaries, LDK Silicon & Chemical Technology Co., Ltd. and LDK Silicon Holding Co., Limited (together the "Scheme Companies"), convened pursuant to the orders of the Grand Court of the Cayman Islands (the "Cayman Court") and the High Court of Hong Kong (the "Hong Kong Court") on October 16, 2014 (Cayman Islands time) and October 17, 2014 (Hong Kong time), approved both the Cayman Islands and Hong Kong schemes of arrangement relating to the Scheme Companies. The Cayman Court is scheduled to hear the petition in respect of the Cayman Islands schemes of arrangement on November 6, 2014 at 9:30 a.m. (Cayman Islands time), at which hearing the Cayman Court will determine whether or not to sanction the Cayman Islands schemes of arrangement. Similarly, the Hong Kong Court is currently scheduled to hear the petition in respect of the Hong Kong schemes of arrangement on November 7, 2014 at 10:00 a.m. (Hong Kong time), at which hearing the Hong Kong Court will determine whether or not to sanction the Hong Kong schemes of arrangement.
Cautionary Note Regarding Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including risks and uncertainties disclosed in LDK Solar's filings with the U.S. Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on information available to LDK Solar's management as of the date such information was prepared and on its expectations, assumptions, estimates and projections as of such date. Actual results may differ materially from the anticipated results because of such and other risks and uncertainties. LDK Solar undertakes no obligation to update forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, assumptions, estimates and projections except as may be required by law.
About LDK Solar in provisional liquidation
LDK Solar Co., Ltd. in provisional liquidation is a leading vertically integrated manufacturer of photovoltaic (PV) products. LDK Solar, through its operating subsidiaries, manufactures polysilicon, mono and multicrystalline ingots, wafers, cells, modules, systems, power projects and solutions. LDK Solar's principal manufacturing facilities are located in Hi-Tech Industrial Park, Xinyu City, Jiangxi Province in the People's Republic of China. LDK Solar's subsidiary office in the United States is located in Sunnyvale, California. For more information about LDK Solar and its products, please visit www.ldksolar.com.
SOURCE LDK Solar Co., Ltd.
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