Tech Firm Violin Memory Hits Ch. 11 With $145M In Debt

Law360, Wilmington (December 14, 2016, 4:06 PM EST) -- Computer memory and data management company Violin Memory Inc. filed for Chapter 11 protection in Delaware on Wednesday, listing roughly $145 million in debt and still in search of a stalking horse bidder for a going-concern auction it hopes to hold sometime in January.

In papers filed in the Delaware bankruptcy court, Violin listed just $39 million in assets compared to its $145.4 million in debt, the bulk of which is from an issuing of unsecured notes in 2014 that the company has not made any...
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