Solyndra LLC, the failed solar-panel maker that received a $535 million U.S. Energy Department loan guarantee before going bankrupt, received objections to its bankruptcy plan from the Internal Revenue Service and the Energy Department.
The IRS argues in court papers filed last Wednesday in Wilmington, Del., that the plan can’t be approved because its principal purpose is to allow the owners of Solyndra’s parent, Argonaut Ventures I LLC and Madrone Partners LP, to avoid future taxes.
Source: Accounting Today. Read full article. (link)