CHARLOTTE — Charlotte-based Sunlight Financial Holdings Inc. says it has reached a deal to be bought out of Chapter 11 bankruptcy protection by a consortium of investors.
Sunlight Financial, a green-energy lender that has faced mounting financial troubles, filed the voluntary bankruptcy petition in the U.S. Bankruptcy Court for the District of Delaware on Oct. 30.
The company estimated its total assets at $100 million to $500 million, and its liabilities ranged between $500 million to $1 billion, with an estimated creditors count between 5,000 and 10,000.
The bankruptcy filing allows Sunlight to continue operating while it seeks court approval to proceed with the acquisition.
Read more here.
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