Bankrupt Powerwave Technologies To Auction Assets

Law360, Wilmington (February 22, 2013, 7:42 PM EST) -- Powerwave Technologies Inc. on Friday officially put its assets on the auction block in Delaware bankruptcy court, though the struggling wireless equipment maker has yet to secure a lead bidder.

The Santa Ana, Calif.-based company filed a motion asking the court to approve bidding procedures for an April 8 auction, in which it will entertain bids for the whole company or individual assets, including its extensive patent portfolio.

“Given the lack of immediately available liquidity, the debtor has determined to market its assets ... and pursue...
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