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Powerwave Technologies, Inc.

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Case overview

Case Number:

1:13-bk-10134

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. July 16, 2015

    Powerwave Trustees Strike $5.5M Settlement With Ex-Brass

    The Chapter 7 trustee for defunct wireless company Powerwave Technologies Inc. on Thursday asked a Delaware federal bankruptcy judge to approve a $5.5 million settlement with a group of adversary defendants, including former company executives, ending a $13 million clawback suit and other claims.

  2. January 27, 2015

    Powerwave Trustee Sues Ex-Brass In Clawback Suit Blitz

    The Chapter 7 estate for defunct wireless company Powerwave Technologies Inc. went on an avoidance action litigation blitz that culminated Tuesday with an adversary action blaming the firm's former brass for alleged conduct, including a so-called "channel stuffing" accounting scheme, that the suit says ultimately caused it to spiral into bankruptcy.

  3. July 26, 2013

    Powerwave Gets Nod For $1.5M Credit Bid For Remaining IP

    The Chapter 7 estate of wireless network maker Powerwave Technologies Inc. on Friday won a Delaware bankruptcy judge's approval to sell its remaining intellectual property to P-Wave Holdings LLC, its senior secured lender and owner of most of its other IP assets, for a $1.5 million credit bid.

  4. July 23, 2013

    Powerwave Ch. 7 Creditor Objects To Proposed IP Sale

    An investment fund Tuesday objected to the proposed sale of bankrupt Powerwave Technologies Inc.'s remaining intellectual property, arguing the sale process had been unfairly tilted in favor of private equity-owned P-Wave Holdings LLC, owner of the rest of Powerwave's IP.

  5. May 31, 2013

    Top Wireless Cos. Take Over DC Subway Project In $2M Deal

    The four top U.S. wireless carriers have agreed to pay bankrupt Powerwave Technologies Inc. $2 million to settle a feud over an unfinished wireless network the company contracted to build in the Washington, D.C., subway system, according to court documents filed Thursday in Delaware bankruptcy court.

  6. May 16, 2013

    Powerwave's Ch. 11 Sale Approved After Creditors Strike Deal

    A fight between the creditors committee and the senior secured lender in the Powerwave Technologies bankruptcy case over a disappointing $17 million bid for the company was resolved Thursday when the two sides came to a last-minute settlement that will allow the Chapter 11 sale to go forward but still provide a small return for unsecured creditors.

  7. May 15, 2013

    Powerwave Creditors Say Ch. 11 Sale Leaves Co. With Nothing

    A federal judge in Delaware on Wednesday approved the sale of bankrupt Powerwave Technologies Inc.'s inventory to a consortium of auction firms for $6.6 million, but held off deciding whether to OK the contested sale of the company's intellectual property to its senior secured lender during the Chapter 11 auction held Monday.

  8. April 10, 2013

    Timely $5M DIP Deal Allows Powerwave To Extend Ch. 11 Sale

    Powerwave Technologies Inc. won approval for a critical $5 million debtor-in-possession package Wednesday as a Delaware bankruptcy judge signed off on an eleventh-hour deal with its senior lender that will allow the wireless equipment maker to extend its disrupted sale process.

  9. February 22, 2013

    Bankrupt Powerwave Technologies To Auction Assets

    Powerwave Technologies Inc. on Friday officially put its assets on the auction block in Delaware bankruptcy court, though the struggling wireless equipment maker has yet to secure a lead bidder.