Hudson Solar Cayman, LP Takes Legal Action Against Sky Solar Holdings, Ltd.
NEW YORK--(BUSINESS WIRE)--Feb 14, 2019--Hudson Capital Infrastructure (Global), LLC, an affiliate of Hudson Sustainable Investments, LLC, announced today that Hudson Solar Cayman, LP has taken the following six (6) actions against Sky Solar Holdings, Ltd. (NASDAQ: SKYS) and certain of its direct and indirect subsidiaries (collectively, Sky Solar ) as a result of continuing events of default under a note purchase agreement dated July 15, 2016 (the Note Purchase Agreement ).
- January 22, 2019: Accelerated all obligations owing the Note Purchase Agreement, which as of January 22, 2019, totaled not less than $114,706,678.
- January 22, 2019: Made a demand for payment on the guaranty of the obligations under the Note Purchase Agreement provided by Sky Solar Holdings, Ltd. and two of its subsidiaries (the Guaranty ).
- January 24, 2019: Exercised rights under Luxembourg law to appropriate 100% of the outstanding shares of Energy Capital Investment, S.à r.l., the entity holding Sky Solar’s interests in 84mw of solar projects in Uruguay.
- February 8, 2019: Commenced litigation in the Supreme Court of the State of New York County of New York (Commercial Division) seeking judgment for amounts owing under the Guaranty. The case is captioned Hudson Solar Cayman, LP v. Sky Solar Holdings, Ltd. et al., with index number 650847/2019. The affidavit of Neil Z. Auerbach in support of the motion for summary judgment in lieu of complaint is available here. All other filings made in connection with the lawsuit are available here.
- February 8, 2019: Issued a notification of its intention to sell 100% of the limited liability company interests in Lumens Holdings 1, LLC, which holds Sky Solar’s 22mw SunPeak portfolio of solar projects. The sale is currently scheduled for April 17, 2019.
- February 11, 2019: Served statutory demands under Cayman Islands, British Virgin Islands, and Hong Kong law for payment under the Guaranty against Sky Solar Holdings, Ltd. and the other two guarantors thereunder.
About Hudson Sustainable Investments, LLC
Hudson Sustainable Investments, LLC is an independent investment firm focused on identifying unique and creative opportunities that promote sustainability and resource efficiency. The Company has diverse capabilities across illiquid sustainable investments including private equity, infrastructure and venture. Further information about Hudson can be found at http://www.hudsonsi.com/.
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CONTACT: Antenna Group for Hudson Sustainable Investments, LLC
Liz Crumpacker, 646-494-7482
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: ENERGY ALTERNATIVE ENERGY OTHER ENERGY
SOURCE: Hudson Sustainable Investments, LLC
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PUB: 02/14/2019 08:00 AM/DISC: 02/14/2019 08:01 AM