Judge Lets LG.Philips Shut Off Its Displays

Law360, New York (May 26, 2006, 12:00 AM EDT) -- Consumers that still prefer CRT flat-screen televisions to their thinner LCD cousins will have to look elsewhere, after a federal judge gave LG.Philips Displays USA the go to convert into Chapter 7 liquidation.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court in Wilmington, Del. signed the company’s request after a hearing on Thursday, speeding up LG.Philip’s descent out of business.

LG.Philips said in court documents that despite its efforts, it will be unable to sell its assets and therefore believes there is no point to...
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