IP Asset Co. Seeks Ch. 11 With Up To $100M In Liabilities

Law360, Los Angeles (March 21, 2013, 9:36 PM EDT) -- Cupertino, Calif.-based Technology Properties Ltd. LLC on Wednesday filed a voluntary petition for Chapter 11 bankruptcy in California federal court, listing liabilities up to $100 million — including a nearly $1.5 million debt to a Kilpatrick Townsend & Stockton LLP predecessor.

TPL, which develops and commercializes intellectual property assets and leverages them to drive product development, reported between $500,000 and $1 million in assets and $50 million to $100 million in liabilities. Its 100 to 199 creditors include Kilpatrick Townsend predecessor Townsend & Townsend & Crew LLP, to which...
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