Luna Wins Ch. 11 OK After Settlement With Hansen

Law360, New York (January 13, 2010, 6:13 PM EST) -- Luna Innovations Inc. has secured approval of a Chapter 11 plan incorporating a settlement with Hansen Medical Inc., the company that won a $36 million trade secrets verdict that sent Luna into bankruptcy six months ago.

Judge William F. Stone Jr. of the U.S. Bankruptcy Court for the Western District of Virginia issued an order Tuesday confirming Luna's plan, which calls for Luna to pay Hansen a $5 million secured promissory note over four years and grant it a license to Luna's sensing technology.

The plan...
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