Bondholders Say Elpida IP Deals Benefit Micron, Not Creditors

Law360, Wilmington (December 5, 2012, 10:05 PM EST) -- Elpida Memory Inc.'s U.S. bondholders argued in Delaware bankruptcy court Wednesday that two patent deals proposed by the Japanese chipmaker are designed primarily to aid Micron Technology Inc.'s $2.5 billion bid for the company and should not be approved.

At a court hearing in Wilmington, a bondholder committee told U.S. Bankruptcy Judge Christopher S. Sontchi that the patent deals were premised entirely on Micron’s proposed acquisition of Elpida, and, if that deal falls through, there will be consequences that outweigh the upside of the patent transactions....
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