Spansion Ch. 11 Plan OK'd Over Objections

Law360, New York (April 16, 2010, 6:08 PM EDT) -- A bankruptcy judge on Friday approved flash memory maker Spansion Inc.'s latest reorganization plan over the objections of two ad hoc committees that had hoped to offer a rival plan they said would be more fair to creditors.

Chief U.S. Bankruptcy Judge Kevin Carey of the District of Delaware confirmed Spansion's amended plan and extended its exclusive acceptance period, shunning objections by the ad hoc committee of convertible noteholders and ad hoc equity committee.

Together, the two committees had raised more than $425 million to launch...
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