Bankrupt Plextronics Gets Nod For $32.6M Sale To Solvay

Law360, Wilmington (March 6, 2014, 7:41 PM EST) -- A Delaware bankruptcy judge on Thursday approved Plextronics Inc.'s $32.6 million sale to a unit of a unit of Belgian chemical giant Solvay SA, the technology research company's largest shareholder and creditor.

Pittsburgh-based Plextronics filed for Chapter 11 in January after lining up Solvay America Inc. as a stalking horse bidder. Without that agreement, the company would have run out of funds and been forced to cease operations, Plextronics attorney Paul J. Cordaro told the court.

The sale to Solvay, which includes a $24.1 million credit...
To view the full article, register now.




Case Information

Case Title

Plextronics, Inc.

Case Number




Nature of Suit

Date Filed

January 15, 2014

Law Firms


UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.