DRAM Maker Qimonda Seeks Bankruptcy Protection

Law360, New York (February 23, 2009, 12:00 AM EST) -- A month after Qimonda AG filed for insolvency protection in Germany, the chip maker's U.S. operations are seeking bankruptcy protection as well.

Qimonda North American Corp. and Qimonda Richmond LLC filed for Chapter 11 on Friday in the U.S. Bankruptcy Court for the District of Delaware, listing assets and liabilities of more than $1 billion each. The units said they had more than 10,000 creditors.

The Qimonda subsidiaries said they were forced to seek Chapter 11 protection after prices for dynamic random access memory products fell...
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