Judge Mary Walrath of the U.S. Bankruptcy Court for the District of Delaware in Wilmington will preside over the hearing.

In court papers filed March 8, the debtor said it didn't have the funds to pay $543,000 in taxes for the property due May 1.

Evergreen Solar has failed to receive any qualifying offers for the facility since its bankruptcy filing, and it would be unlikely to sell the plant without accruing a significant amount of property taxes, court filings said.

Meanwhile, Walrath signed an order on March 6 approving a settlement among Evergreen Solar, its noteholders and unsecured creditors that will resolve a dispute related to liens on the debtor's assets.

The agreement, which is supported by noteholders, the official committee of unsecured creditors and U.S. Bank NA, will give the secured noteholders a lien on all the debtor's assets in addition to a $108.29 million deficiency claim. The deficiency claim would receive the same treatment as the debtor's unsecured creditors, but would only receive a distribution after the general unsecured creditors have received a 1% recovery.

Evergreen Solar owes $165 million on 13% secured notes due April 15, 2015, for which U.S. Bank is indenture trustee.

The noteholders had asserted a lien on substantially all of the debtor's assets, court papers show. The unsecured creditors' committee subsequently challenged the lien.

On Nov. 28, the unsecured creditors' committee filed an adversary proceeding seeking declaratory judgment that certain foreign intellectual property rights and two claims Evergreen Solar holds against third parties aren't subject to the noteholders' prepetition liens. The noteholders sought to dismiss certain counts of the complaint.

The pending litigation will be resolved through the settlement.

General unsecured creditors will receive a pro rata share of an unsecured creditor vehicle, which would contain 3 million shares of China Private Equity Investment Holdings Ltd., rights to two commercial tort claims and $50,000 in cash. The vehicle would liquidate the assets and distribute the proceeds to the unsecured creditors, the settlement said.

A settlement was reached after the noteholders, the committee and the debtor went to mediation with Judge Judith Wizmur of the U.S. Bankruptcy Court for the District of New Jersey on Jan. 11, and discussions continued after that.

Before the settlement was reached, the unsecured creditors had sought to dismiss or convert the case to a Chapter 7 proceeding because its wind-down budget wasn't going to fund all the likely administrative expenses of the estate.

Evergreen Solar developed and manufactured multicrystalline silicon wafers, known as string ribbon wafers, using proprietary technology.

The string ribbon wafers were converted into photovoltaic solar cells used to produce solar panels. The debtor's technology produced multicrystalline silicon wafers by growing thin strips of silicon that were then cut into wafers, reducing the amount of silicon and other costs required by more conventional methods.

The Marlboro, Mass., company had 26 U.S. patents, six Japanese patents, five Indian patents and four European patents, with an additional 20 pending U.S. patent applications and 76 pending foreign patent applications.

According to court documents, Evergreen's sales were primarily to customers in Europe.

Evergreen received approval to sell its assets through three separate sales on Nov. 10.

ES Purchaser LLC -- a vehicle formed by holders of the secured notes -- won Evergreen's claims against Lehman Brothers International Europe and Lehman Brothers Holdings Inc., which arise from a June 26, 2008, agreement, for a $21.5 million credit bid.

ES Purchaser originally was to be the stalking-horse bidder for substantially all of Evergreen's assets with a $60 million credit bid, but the unsecured creditors objected to the noteholders' ability to credit-bid their debt for all the assets.

Max Era Properties Ltd. won Evergreen's core assets, including intellectual property, and its tangible assets, property and contracts associated with Evergreen's multicrystalline silicon wafer technology.The Hong Kong purchaser paid $9.2 million -- $6 million in cash and $3.2 million in unrestricted ordinary shares of CPE Investment Holdings -- for the assets. Evergreen retained $12.9 million in cash and cash equivalents.

Finally, Kimball Holdings LLC won Evergreen's noncore solar panel parts inventory with a $3.8 million bid.

According to court documents, ES Purchaser also bought miscellaneous noncore assets through a $7 million credit bid.

Evergreen Solar, 7.89% owned by hedge fund Aristeia Capital LLC, blamed its Aug. 15 bankruptcy filing on the "intensely competitive and rapidly evolving" solar power market.

It had suffered a total operating loss of $46.2 million on $35.3 million in revenue for the first quarter of 2011.

Debtor counsel Ronald J. Silverman and Scott K. Seamon at Bingham McCutchen LLP and Laura Davis Jones at Pachulski Stang Ziehl & Jones LLP couldn't immediately be reached for comment.