Monday, March 2, 2009

Spansion First Bankruptcy Casualty Today

We were getting a little behind cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 1 bankruptcy a day run rate... Undiversified maker of flash memory (of which nowadays you get 16GB for free with every purchase of toilet paper) Spansion late last night deposited its first day motions in cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 after hours Chapter 11 drop slot in Delaware bankruptcy court. The company's decision "was made in consultation with an ad hoc consortium of holders of Spansion's $625 million Senior Secured Floating Rate Notes due 2013."

Alas, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 company made cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 biggest faux pas of any free fall bankruptcy candidate and did not have a DIP in hand at time of filing: good luck getting one now. "The company is in discussion with cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 ad hoc consortium about providing a debtor-in-possession (DIP) credit facility, while also simultaneously pursuing ocá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365r options intended to provide cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 company with additional liquidity for its long-term cash needs." The reason for cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 delay is because apparently "cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 company believes that its current and anticipated cash resources will be sufficient to pay its expenses and maintain its business operations while it explores and implements options to address its long-term cash needs." Luckily cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365y did not add that Flash RAM is also "not" a discretionary purchase.

Legal counsel to advise Spansion on cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 marketability of its "revolutionary" MirrorBit NOR and ORNAND technology is Latham & Watkins. The financial advisor feasting on this new carcass has surprisingly not been named yet. Sphere: Related Content
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