The management board of SiC Processing AS, the Norwegian subsidiary of SiC Processing GmbH in Norway, plans to petition for insolvency at the district court in Porsgrunn, Norway.
SiC Processing, a provider of slurry recovery services, says its only customer – REC Wafer Norway AS – filed for insolvency in the summer. Consequently, SiC Processing has started a solvent ‘winding-up procedure’ with the consent of its major creditors. Selected creditors have now decided to not maintain their consent, which is required for a solvent winding-up.
