Bankruptcy court sets October 27 auction of Solyndra plant, other assets

Houston (Platts)--28Sep2011/1243 pm EDT/1643 GMT

Solar manufacturer Sondra's assets, including a California plant that it built with the help of a $535 million loan guarantee from the federal government, will be auctioned on October 27, a US Bankruptcy Court judge in Delaware said.

Judge Mary Walrath on Tuesday signed an order approving an auction of Solyndra's manufacturing facility and the land it was built on in Fremont, California, as well as , "all associated fixtures and equipment, intellectual property, rights under executory contracts and leases, and any other business assets necessary for a turnkey sale of Solyndra's enterprise."

Under the motion, parties must submit bids by October 25 and the winner bidder and back-up winning bidder will be determined at an October 27 auction in San Francisco.

The court also scheduled a November 2 hearing to consider approval of the sale.

The approved motion said that if no qualifying bids are submitted by the deadline, Solyndra will withdraw its motion to sell its assets. If only one qualifying bid is submitted, the company can designate that sole bidder the winning bidder or reject it, the court said.

--Jeffrey Ryser, jeffrey_ryser@platts.com

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