Hudson files winding up petition against Sky Solar

An affiliate of US asset manager Hudson Sustainable Investments LLC has filed a winding up petition against Sky Solar Holdings Ltd (NASDAQ:SKYS) to which it is a creditor.

Hudson Capital Solar Infrastructure GP LP, a general partner of Hudson Solar Cayman LP, has filed the petition with the Grand Court of the Cayman Islands, Sky Solar said today, noting that it has not been served with the petition yet.

The solar power producer stressed that it is not insolvent and that it will vigorously defend. The company said that the petition is “procedurally defective” and does not comply with the applicable practice direction. It further explained that the alleged debt upon which the petition is based is disputed and is the subject of ongoing litigation in New York.

“The company is vigorously contesting Hudson’s claims in the New York Court, and the company and certain of its subsidiaries filed a complaint in the New York Court against Hudson on August 13, 2020 seeking a declaratory judgement with respect to certain purported events of default under the Note Purchase Agreement that the Company believes were improperly alleged by Hudson,” it stated.

As of end-December 2019, Sky Solar owned and operated 115.1 MW of solar power plants.

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