Bankruptcy Tracker

Fresh Start For Two Bankrupt Semiconductor Companies

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The Spansion corporate office in Sunnyvale, California. The company emerged from Chapter 11 bankruptcy on May 10, 2010.

Spansion, Inc. and MagnaChip Semiconductor Corp, two companies that filed Chapter 11 bankruptcy in 2009, are up and running again with both companies now trading on the New York Stock Exchange.

"Given our focus on Spansion's future, management and the Board have concluded that chapter 11 provides the most effective means for Spansion to preserve its business, meet its post-petition obligations and maintain customer confidence and continuity while we complete this restructuring," said newly appointed President and CEO John Kispert back on March 1, 2009 when the company filed for bankruptcy.

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