Elpida, US Creditors Debate IP Deals That Tokyo Court OK'd

Law360, Wilmington (November 8, 2012, 10:10 PM EST) -- Insolvent Japanese chipmaker Elpida Memory Inc. and a group of American creditors argued in Delaware bankruptcy court Thursday over how the U.S. Bankruptcy Code applies in the Chapter 15 case to patent deals already cleared by the Tokyo court overseeing the foreign main proceeding.

Elpida, which filed motions in Delaware seeking approval of the agreements, contends the court must defer to its Japanese counterpart while the U.S. bondholders — a group owed nearly $300 million — believe the proposed transfers should be subject to the same...
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