Spansion Gets OK To Sell Singapore Unit For $35M

Law360, New York (September 8, 2009, 12:03 PM EDT) -- Bankrupt flash memory provider Spansion Inc. has won court approval for the $35 million sale of its Singapore subsidiary to Powertech Technology Inc., despite the objections of companies including Tessera Inc. and Microsoft Corp.

Judge Kevin Carey of the U.S. Bankruptcy Court for the District of Delaware on Friday granted Spansion's motion to approve the sale, free and clear of all liens, claims, interests and encumbrances, with modifications to address the objections.

Spansion asked the court in August to approve the sale for $35 million in...
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