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State Settles Loan Dispute with Closed Solar Energy Company
By: Associated Press
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TOLEDO, Ohio (AP) – Ohio’s attorney general says the state has received $6.5 million from a solar energy company that went out of business and defaulted on two taxpayer-supported loans.
The state filed lawsuits in 2013 seeking to recover more than $10 million from Willard & Kelsey Solar Group and its shareholders.
The suits stem from loans the company got to buy equipment to make solar panels at its plant in Perrysburg near Toledo.
Ohio Attorney General Mike DeWine said this past week that the former company and three of its principals returned the money and the state will drop its lawsuits.
The company began in 2007. The Blade newspaper reported afterward that executives began paying themselves millions and spent money on sporting events and parties.
Willard & Kelsey closed two years ago.