"Solyndra Bankruptcy Plan Approved Over U.S. Objections"

"Solyndra, the solar panel maker that failed despite a $528 million federal loan, on Monday won court approval for its plan to repay creditors and end its politically charged bankruptcy, after a judge overruled objections by the U.S. government."

"U.S. Bankruptcy Judge Mary Walrath in Delaware rejected the government argument that the plan was improper because its main purpose was to provide tax breaks.

Venture capital firms Argonaut Private Equity and Madrone Capital Partners will control Solyndra"s tax breaks, known as net operating losses or NOLs, that are potentially worth $341 million after the bankruptcy."

Tom Hals reports for Reuters October 23, 2012.

Source: Reuters, 10/23/2012