Shi Zhengrong on Crisis Response

Following his 2013 removal, Shi Zhengrong publicly characterized the board's action against him as procedurally flawed and lacking lawful basis, a disputed claim presented against the board's own account of the ouster.

Suntech accumulated $2.2 billion in debt and defaulted on a $541 million bond; five days after that default, its main operating subsidiary, Wuxi Suntech Power, filed for bankruptcy protection.

A Jiangsu provincial intermediate court formally accepted an insolvency and restructuring petition for Wuxi Suntech filed by a group of eight Chinese banks (including Industrial & Commercial Bank of China, Agricultural Bank of China, and Bank of China) owed as much as $1.14 billion (7.1 billion yuan), per Forbes citing Xinhua.