Powerwave Ch. 7 Creditor Objects To Proposed IP Sale

Law360, New York (July 23, 2013, 6:09 PM EDT) -- An investment fund Tuesday objected to the proposed sale of bankrupt Powerwave Technologies Inc.'s remaining intellectual property, arguing the sale process had been unfairly tilted in favor of private equity-owned P-Wave Holdings LLC, owner of the rest of Powerwave’s IP.

Spectrum Master Fund Ltd., a creditor of the wireless communications equipment company, said that Chapter 7 trustee Charles A. Stanziale Jr. had failed to properly define which IP the proposed sale actually covers and other key terms of the deal, thus subverting any proposed competitive sale...
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