Qimonda Gets Green Light For Liquidation Plan

Law360, Wilmington (September 19, 2011, 6:49 PM EDT) -- A Delaware bankruptcy judge gave her blessing Monday to Qimonda Richmond LLC’s liquidation plan, which will pay the defunct chip maker’s unsecured creditors no more than 14 percent on hundreds of millions of dollars in claims.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the plan, which was co-sponsored by the official committee of unsecured creditors and had the support of over 99 percent of creditors entitled to vote, according to Morris Massel of Simpson Thacher & Bartlett LLP, who represents Qimonda.

“We believe that...
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