Conexant Wins Interim Court Approval to Tap $15 Million Bankruptcy Loan

Kirkland advises Conexant Systems Inc. in its Chapter 11 bankruptcy filing.     

"Conexant is aiming for a 'very expedited' bankruptcy proceeding, 'because of viability concerns with a long Chapter 11 case,' said Kirkland & Ellis LLP's Joshua Sussberg, attorney for the company.

'I'm sure there will be some discussion about that,' Mr. Sussberg said.

Conexant's attorney said the $2 million offer for unsecured creditors was arrived at through a legal and business analysis of how much value could be freed from the claims of the Soros fund affiliate that is the company's secured lender."

This article appeared in its entirety in the March 1, 2013 edition of Dow Jones DBR Small Cap.