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Tech Bankruptcy
December 31, 2008
  Tech in Trouble: Nortel Networks; Midway Games; eToys
FierceWireless reports: "Nortel Networks, despite having $2.6 billion in cash, is contemplating bankruptcy because of uncertainty about some of its long-term financial problems as well the future market for its voice-only wireless equipment, which has seen a steep drop in demand recently."

According to Gamasutra, Midway Games, the maker of Mortal Kombat, is facing a potential chapter 11 bankruptcy filing and NYSE delisting.

Word on The Street is that the parent of eToys.com, Parent Company (clever, huh?) filed a Chapter 11 petition in Delaware two days ago. The original Etoys filed for Chapter 11 in 2001, and was sold to KB Toys, which recently filed its own Chapter 11 petition.

Have a good New Year everyone.

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A blog discussing the impact of technology on bankruptcy law and practice.

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Warren E. Agin is a partner in Swiggart & Agin, LLC, a boutique law firm in Boston, Massachusetts focusing on the needs of technology companies. Mr. Agin heads its bankruptcy department. The author of the book Bankruptcy and Secured Lending in Cyberspace (3rd Ed. West 2005), Mr. Agin also chaired the ABA's E-commerce and Insolvency Subcommittee from 1999 to 2005, co-chaired the Boston Bar Association's Internet and Computer Law Committee (2003-2005), and served on the American Bar Association's Standing Committee on Technology and Information Services (2008-2011). Mr. Agin currently co-chairs the Editorial Board of Business Law Today. A contributing editor to Norton Bankruptcy Law and Practice, 3d, and co-author of its chapter on intellectual property for the past fifteen years, he is author of numerous legal articles and addresses on topics of technology, internet and bankruptcy law.

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