Judge refuses to extend sale timeline for Solyndra

September 27, 2011 - 11:50 AM

WILMINGTON, Del. (AP) — A Delaware bankruptcy judge has refused to extend the sale timeline of failed solar-panel manufacturer Solyndra LLC, which received a half-billion-dollar federal loan and was once touted by President Barack Obama in support of his administration's economic policies.

The judge on Tuesday said the timeframe proposed by company based in Fremont, Calif., to sell its assets will remain in place. She also ordered Solyndra to have a representative at an international solar energy conference in Dallas next month to lobby potential buyers there.

Attorneys for Solyndra and its secured lenders, including the Department of Energy, are eyeing an Oct. 27 auction.

Solyndra's official creditors committee had argued that the compressed timeline would deprive some potential bidders of the time needed to arrange financing.