LRC served as U.S. bankruptcy counsel to Micron Technology Inc. (“Micron”), assisting transaction counsel, Wilson Sonsini Goodrich & Rosati, in the cross-border, global restructuring of Japan-based Elpida Memory, Inc. (“Elpida”). With respect to Elpida’s chapter 15 bankruptcy case in the Bankruptcy Court for the District of Delaware (the “U.S. Proceeding”), LRC advised Micron on all aspects of the U.S. Proceeding, serving as lead bankruptcy and litigation counsel in all contested matters and related negotiations with certain bondholders of Elpida. On June 25, 2013, Elpida’s Plan of Reorganization (the “Plan”) was recognized by order of the Bankruptcy Court, which is the first order of its kind entered by a U.S. Bankruptcy Court with respect to a plan confirmed under Japanese law. LRC continued to advise Micron regarding the implementation of the Plan with respect to Elpida’s assets located within the territorial jurisdiction of the United States. On July 10, 2014, LRC was recognized by American Lawyer with the Global Finance Deal of the Year: Restructuring and Insolvency (Asia) as an Honoree.
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