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© tom schmucker / dreamstime.com Components | March 26, 2012

Court decides on Elpida reorganisation

Notice on court decision to commence corporate reorganization proceedings for Elpida Memory and Akita Elpida Memory.
On March 23, 2012 at 5 p.m. the Tokyo District Court made the order to commence corporate reorganization proceedings for Elpida and Akita Elpida Memory, Inc., in response to petitions filed by the two companies on February 27, 2012 to begin such proceedings.

At the same time the Court appointed Yukio Sakamoto, President & CEO, and Nobuaki Kobayashi, attorney-at-law as the Trustees and made the order to commence reorganization proceedings, it also ordered the examination of the both companies by the Examiner.

Yukio Sakamoto, President & CEO has been appointed by the Court to serve as the Trustee with Nobuaki Kobayashi, attorney-at-law.

Elpida Memory, Inc.

On February 27, 2012, Elpida filed a petition with the Tokyo District Court to commence corporate reorganization proceedings (court case name: Heisei 24 (Mi) No. 1, Corporate Reorganization Case). On March 23, 2012 at 5 p.m., the Court made the order to commence corporate reorganization proceedings and at the same time, ordered the examination by the Examiner.

Akita Elpida Memory, Inc.

On February 27, 2012, Akita Elpida's filed a petition with the Tokyo District Court to commence corporate reorganization proceedings (court case name: Heisei 24 (Mi) No. 2, Corporate Reorganization Case). On March 23, 2012 at 5 p.m., the Court made the order to commence corporate reorganization proceedings and at the same time, ordered the examination by the Examiner.

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