LRC served as lead bankruptcy counsel, assisting Sullivan & Cromwell LLP as primary transaction and litigation counsel, to NXP Semiconductors B.V. and NXP B.V. (“NXP”) in connection with the chapter 11 proceedings of Trident Microsystems, Inc. (“Trident”). LRC advised NXP regarding its supply contract and software license rights, specifically in connection with the sale of Trident’s business lines in the bankruptcy process and in the context of plan confirmation. Trident designed, developed and marketed semiconductors for home consumer electronic applications, and NXP was Trident’s majority shareholder. In response to an investigation commenced by the Official Committee of Equity Holders, LRC advised NXP on discovery, settlement and other litigation issues that resulted in a highly favorable settlement of all claims of the parties and a significant equity distribution for NXP.
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