Elpida Patent Deals OK'd Over Bondholder Objections

Law360, Wilmington (January 16, 2013, 10:45 PM EST) -- Elpida Memory Inc. got the long-awaited go-ahead for a pair of patent deals Wednesday as a Delaware bankruptcy judge approved transactions over objections of U.S. bondholders who claimed they were designed primarily to aid Micron Technology Inc.'s $2.5 billion bid for the Japanese chipmaker.

The bondholders, a group owed some $300 million, argued the deals should be scuttled because they favored Micron at the expense of Elpida and its creditors, but U.S. Bankruptcy Judge Christopher S. Sontchi found the transactions provided clear value for the company....
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