Equipped to Succeed: Recent Asset Purchase Creates Opportunities for Innovative TI Plant

In another successful case for the Insolvency, Restructuring & Creditors’ Rights practice group of Munsch Hardt Kopf & Harr, P.C., Texas Instruments Incorporated (TI) was able to take advantage of an opportunity to equip its plant in Richardson, Texas.

In September 2009, a U.S. bankruptcy court in Delaware approved TI’s purchase of specialized tooling equipment for the production of semiconductor chips from Qimonda Richmond, LLC, a Richmond, Virginia, company that had filed for Chapter 11 bankruptcy protection.

“TI was able to purchase the majority of Qimonda’s equipment for $172.5 million,” says Munsch Hardt shareholder Joseph J. Wielebinski, who led the Munsch Hardt team that represented TI in its stalking horse bid for Qimonda’s assets under Section 363 of the Bankruptcy Code. “According to EE Times, the acquisition represented a ‘huge and stunning discount.’”

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