Bankruptcy Blogs

On Sunday, chip maker Spansion, Inc. filed a chapter 11 petition in the District of Delaware, case number 09-10690. I haven't heard of them, but this is a big one - more than a billion in assets. Spansion is the world's largest manufacturer of flash memory solutions, particularly for cell phones. According to the AP story, Spansion's problems are related to the decline in demand for consumer electronics.

About February 20, 2009, Qimonda Richmond, LLC, and its parent, Qimonda North America Corp., filed chapter 11 petitions in Delaware. The docket number is 09-10589. I wrote about Qimonda previously.

As predicted back in December, Midway Games, Inc. filed its Chapter 11 petition on February 12, 2009, in Delaware. The case number is 09-10465. A maker of computer games available through retail outlets and on-line, Midway Games claims in its press release that its fundamental business is stable, but that obligations related to stock repurchase agreements forced it to seek Chapter 11. European operations will not be affected.

Yesterday, I received the following e-mail from John Lynn, the president of a patent incubator of sorts called Discovery Alliance:

According to the Yrsys Technology Blog, Qimonda, a chipmaker based in Germany who had a 10% share of the DRAM (those things in your computer that remember everything) market in Q3 2008 became the first major memory chip maker to file for bankruptcy following the rapid dive in memory chip prices. Doesn't say where.