Today the competent French commercial court ordered the filing for judicial settlement proceedings (redressement judiciaire) for Silicium de Provence S.A. (SilPro), in which SOLON SE has an indirect investment via SOL Holding AG, a joint venture. The procedure is comparable to Chapter 11 in the U.S. SilPro will thus be given a period of two months to arrive at a viable solution with various potential creditors. The company, which was founded in 2006, was unable to find further funding due to the current financial crisis, resulting in the necessity of this measure. SilPro, headquartered in Saint Auban, France, was established
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