Tech in Trouble: Nortel Networks; Midway Games; eToys
"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.
Labels: etoys, midway games, nortel
Tech Filings: NetVersant, Hawaii Telecom, Charter Comm.
According to the Houston Business Journal
"NetVersant Solutions Inc., once a high-flying player in the wireless network infrastructure industry, has filed for Chapter 11 bankruptcy protection and is planning to sell off its assets to New York-based Patriarch Partners LLC, its largest lender."
Hawaii Telecom filed a Chapter 11 bankruptcy petition in the District of Delaware on December 1, 2008. More information is available at its webpage
. According to the Communications Technology Blog
, Hawaii Telecom is now trying to move the case's venue to the District of Hawaii. Hopefully, in time for February school vacation week.
According to Moody's
, Charter Communications
is likely to file for bankruptcy in 2009.
Labels: charter communications, hawaii telecom, netversant
Recent Tech Filings: Neonode, Nortel, Equity Media Holdings
Neonode, Inc.'s Swedish subsidiary, Neonode AB, filed a petition for bankruptcy in compliance with the Swedish Bankruptcy Act (1987:672) December 9, 2008. Neonode is a cell phone manufacturer, with patented touch screen technology according to this
article posted at IntoMobile.
Nortel Networks Corp. is exploring the possibility of a bankruptcy filing, according to the Associated Press
and the Wall Street Journal
Equity Media Holdings, Corp. filed a chapter 11 petition December 8, 2008, in the United States Bankruptcy Court for the Eastern District of Arkansas. The case is In re Equity Media Holdings Corp, 4:08-bk-17646, U.S. Bankruptcy Court, Eastern District of Arkansas (Little Rock). According to the company's press release
, "Equity Media's proprietary Centralized Automated Satellite Hub (C.A.S.H.) system provides centralized content distribution services which Equity Media believes are unique within the media industry."
Labels: equity media, neonode, nortel
A blog discussing the impact of technology on bankruptcy law and practice.
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