In 2009, semiconductor producer Qimonda Richmond LLC hired Gordon Brothers to provide valuation and DIP financing support when the company filed for Chapter 11 bankruptcy. Understanding through experience that the facility would be most valuable if kept in a “warm state,” we were able to provide funding and disposition expertise to ensure an orderly wind down, and maximize the value of the assets.
By extending Qimonda a DIP loan, we were able to protect the value of the facility’s assets while we identified potential buyers. Working within the structure of a complex bankruptcy case, we provided valuable guidance as the company successfully navigated the disposition process over a 12 month period. The state-of-the-art equipment was purchased at strong valuations by reputable buyers including Texas Instruments, allowing the company to repay the DIP loan early and in full.