Plextronics Seeks Ch. 11, Plans $32.6M Sale To Solvay

Law360, Wilmington (January 17, 2014, 3:51 PM EST) -- Plextronics Inc., spun off about a decade ago from Carnegie Mellon University and specializing in printed electronics, filed for Chapter 11 protection late Thursday in Delaware bankruptcy court with plans for a stalking horse sale to a U.S. unit of Belgian chemical giant Solvay SA.

Technology research and development firm Plextronics listed $33 million in liabilities against only $3 million in assets and announced plans for an auction, with primary secured creditor and equity holder Solvay America Inc. putting up a $32.6 million stalking horse bid,...
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