ATopTech Quells Sale Objections From Largest Creditor
Law360, Wilmington (May 12, 2017, 4:33 PM EDT) -- Bankrupt microchip firm ATopTech Inc. reached a settlement with its largest creditor and competitor to gain provisional court approval of its asset sale Friday in Delaware, resolving objections to the sale and related federal litigation.
During a hearing in Wilmington, ATopTech attorney Eric Lopez Schnabel of Dorsey & Whitney LLP told the court that the debtor had reached an agreement in principle to resolve the objections to the sale lodged by Synopsys Inc., which is owed more than $30 million as a result of a California patent infringement judgment against ATopTech.
"To resolve the sale objection, we've in essence resolved the...
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