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Flat Screen TVs Push LG.Philips Units Into Bankruptcy

Law360 (January 27, 2006, 12:00 AM EST) -- LG.Philips LCD, the world's largest maker of liquid crystal displays, has filed for creditor protection for its European holding company, as well as its Dutch and Czech units and its German affiliate, resulting in the immediate loss of 750 jobs and threatening many more.

The troubled Hong Kong-based venture, which is jointly controlled by South Korea's LG Electronics Inc. and Royal Philips Electronics NV of the Netherlands, has been struggling for the past few years as demand for cathode ray tubes (CRTs) has dropped in favor...
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