The company’s administrators, appointed by court, who are working on debt restructuring process for the company, are yet to review and validate most of the claims.
Debt administrator spokesperson Yang Erguan was quoted by Reuters as saying thatit has confirmed claims of $532.9m and is likely to conclude the debt registration and verification by the end of June 2013.
"We will complete the drafting of the restructuring plan and choose a strategic investor as soon as possible," added Erguan.
The company had filed for a bankruptcy protection earlier in March 2013 within a week after its parent defaulted on a $541m convertible bond.
Suntech, then, said that the appointment of administrators by the court is aimed at safeguarding debt obligations and also progressing production and operations of the company.
Wuxi Suntech, meanwhile, has stated that its business have improved marginally, with debt administrator pushing to recover accounts receivable and offload inventories.
