Spansion Japan Plundered By US Affiliate: Creditors

Law360, New York (September 25, 2009, 3:49 PM EDT) -- A group of secured creditors of electronics wafer and die manufacturer Spansion Japan Ltd. has accused bankrupt parent Spansion LLC of illegally manipulating agreements between the companies and stealing proprietary information, allegedly reducing the creditors' assets by at least $186 million.

GE Financial Services Corp., on behalf of itself and the secured creditors of SJL, filed a claim in the U.S. Bankruptcy Court for the District of Delaware Sept. 24 accusing the directors, officers and agents of Spansion LLC of dominating SJL by business and economic...
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