Powerwave Creditors Say Ch. 11 Sale Leaves Co. With Nothing

Law360, Wilmington (May 15, 2013, 10:00 PM EDT) -- A federal judge in Delaware on Wednesday approved the sale of bankrupt Powerwave Technologies Inc.'s inventory to a consortium of auction firms for $6.6 million, but held off deciding whether to OK the contested sale of the company's intellectual property to its senior secured lender during the Chapter 11 auction held Monday.

U.S. Bankruptcy Judge Mary F. Walrath said she needed to see the 600-page bid for the California-based wireless network maker's portfolio of intellectual property, including nearly 800 U.S. and foreign patents, in order to...
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