Reuters: Technology News: Elpida says court again delays ruling on restructuring plans

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Elpida says court again delays ruling on restructuring plans Oct 3rd 2012, 06:57 Tweet Share this Email Print Related News CORRECTED-Cerberus may sell $2.5 bln stake in Japan's Aozora Bank Thu, Sep 27 2012 Japan government mulls Renesas rescue with Toyota, others: sources Sat, Sep 22 2012 Elpida's bondholders open new front in fight over Micron deal Mon, Sep 17 2012 Elpida chips are seen at an electronic store in Tokyo's Akihabara district April 24, 2012. Credit: Reuters/Toru Hanai TOKYO | Wed Oct 3, 2012 2:57am EDT TOKYO (Reuters) - Failed chipmaker Elpida Memory Inc said a Japanese court has again delayed its ruling on two competing plans to restructure the company. A committee set up by the court to examine plans involving a takeover by U.S. rival Micron Technology Inc and rival one from a group of Elpida bondholders is now expected to make a recommendation by October 29, one month later than earlier estimated, Elpida said in a statement posted on its website on Friday. The court will make a final decision based on the recommendation. Elpida filed for bankruptcy in February in the largest corporate failure among Japanese manufacturers. Saddled with 482 billion yen ($6.2 billion) in liabilities, Elpida has agreed to be bought by Micron. The company's bondholders in August submitted a restructuring plan to the Tokyo District Court after disagreeing with a proposal drawn up by Elpida's court-appointed administrator which endorses the deal with Micron. The deadline for the committee's report has been extended once before by one month. ($1 = 78.0400 Japanese yen) (Reporting by Junko Fujita; Editing by Muralikumar Anantharaman) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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