Pantech Files For Ch. 15 Relief Amid Korean Debt Workout
Share us on: By Andrew Scurria
Law360, New York (October 17, 2014, 3:11 PM ET) -- South Korean mobile phone manufacturer Pantech Co. Ltd. sought shelter in Georgia bankruptcy court Thursday to protect itself from 15 intellectual property lawsuits as it attempts to cut a debt load of more than $500 million through its home country’s insolvency laws.
The company's petition requested recognition of its Korean rehabilitation proceedings under Chapter 15 of the U.S. Bankruptcy Code, which allows foreign debtors to enforce orders from their home courts in the U.S. Pantech faces claims in various U.S. jurisdictions from patent-holding outfits and wants...
