Spansion looks to extend exclusivity in light of unresolved lawsuits

By Jennifer Lanning Drey

Portland, Ore., June 5 - Spansion Inc. requested a three-month extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Spansion wants to extend the exclusive plan-filing period to Sept. 28 from June 29 and the solicitation period to Nov. 25 from Aug. 28.

The company said it has a host of unresolved legal issues, primarily related to complex intellectual property matters.

Spansion is party to several patent infringement lawsuits with companies including Samsung Electronics Co., Ltd. and Fast Memory Erase, LLC.

As previously reported, the bankruptcy court recently denied a $70 million settlement agreement between Spansion and Samsung related to patent infringement lawsuits.

A hearing on the exclusivity motion is scheduled for June 23.

Spansion, a Sunnyvale, Calif.-based maker of flash memory products, filed for bankruptcy on March 1. Its Chapter 11 case number is 09-10690.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.