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

Law360, Wilmington (July 26, 2013, 8:21 PM EDT) -- 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.

The approval came after parties spent several hours in closed-door negotiations to iron out nearly all of the objections to the credit bid, with a remaining protest from creditor Spectrum Master Fund Ltd. over what it argued were...
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