Conexant Gets OK For Ch. 11 Disclosure Statement

Law360, Wilmington (April 19, 2013, 5:25 PM ET) -- A Delaware bankruptcy judge signed off on Conexant Systems Inc.'s Chapter 11 amended disclosure statement Friday, allowing the private equity-owned microchip developer to begin soliciting votes for its prepackaged reorganization plan.

The revised document incorporates a global settlement between Conexant, secured lender QP SFM Capital Holdings Ltd. and the official committee of unsecured creditors that resolves all objections to the disclosure statement, ensuring that the company can meet the milestones for its expedited reorganization, debtors' counsel Joshua A. Sussberg of Kirkland & Ellis LLP told the court....
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