Qimonda Gets Green Light For Liquidation Plan

Law360, Wilmington (September 19, 2011, 6:49 PM EDT) -- A Delaware bankruptcy judge gave her blessing Monday to Qimonda Richmond LLC’s liquidation plan, which will pay the defunct chip maker’s unsecured creditors no more than 14 percent on hundreds of millions of dollars in claims.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the plan, which was co-sponsored by the official committee of unsecured creditors and had the support of over 99 percent of creditors entitled to vote, according to Morris Massel of Simpson Thacher & Bartlett LLP, who represents Qimonda.

“We believe that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.