Elpida Pledges Patents To Back $51M Apple Supply Deal

Law360, Wilmington (September 27, 2012, 6:31 PM EDT) -- Elpida Memory Inc. asked a Delaware bankruptcy judge on Wednesday for permission to pledge 259 U.S. patents as collateral for a $51 million memory chip supply pact with Apple Inc.

The Tokyo-based company's motion said Apple was one of its largest customers and that the security pledge was necessary to maintain its long-term supply arrangement with the smartphone and computer powerhouse, which requested collateral to protect against disruptions in its production schedule that might arise if Elpida failed to deliver a steady supply of dynamic random...
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.