A Wuxi, China court has "formally accepted" an insolvency petition for Wuxi Suntech, Suntech's...

A Wuxi, China court has "formally accepted" an insolvency petition for Wuxi Suntech, Suntech's (NYSE:STP) main Chinese manufacturing unit. An admin committee has been appointed to handle the restructuring, and Wuxi Suntech will continue making solar cells/modules in the interim. Bankruptcy proceedings haven't yet started for Suntech proper. (yesterday)