Reuters: Bankruptcy News: BREIF-REC stops funding REC Wafer Norway AS

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BREIF-REC stops funding REC Wafer Norway AS Aug 14th 2012, 06:10 OSLO | Tue Aug 14, 2012 2:10am EDT * REC ASA has decided to cease further funding of REC Wafer Norway AS. * Consequently there is no basis for a solvent winding-up of the company and the Board of REC Wafer Norway AS has resolved to file for bankruptcy. * REC Wafer Norway AS's estimated carrying value of liabilities exceeded the estimated value of assets by about NOK 1.2 billion.

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