Trident Enters Ch. 11 With Bidder For Set-Top Boxes

Law360, New York (January 4, 2012, 2:36 PM EST) -- Digital TV semiconductor company Trident Microsystems Inc. filed for Chapter 11 protection in Delaware bankruptcy court Wednesday, while home-entertainment silicon and software solutions provider Entropic Communications Inc. made a $55 million stalking horse bid for its set-top box assets.

California-based Trident and its subsidiary Trident Microsystems (Far East) Ltd. listed $310 million in total assets and $40 million in liabilities in the voluntary bankruptcy petition. It listed NXP BV, also its largest shareholder, as its largest creditor with an unsecured claim of $541,000, and PricewaterhouseCoopers LLP...
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