Conexant Set For Speedy Ch. 11 Exit After Plan Wins Nod
By Matt Chiappardi
Law360, Wilmington (June 4, 2013, 5:58 PM ET) -- Microchip developer Conexant Systems Inc. cleared the final hurdle on its path out of Chapter 11 on Tuesday when a Delaware bankruptcy judge confirmed a reorganization plan that would see the private-equity-owned company emerge significantly deleveraged in fewer than 100 days.
The California-based company's trip through the process was swift, going from petition to confirmation in 96 days, and its last stretch was smooth with no outstanding objections to the plan and unanimous consent from the classes of creditors eligible to vote, Joshua A. Sussberg of...