Qimonda Richmond eyes $15.3 million settlement with GE Capital Corp.

By Lisa Kerner

Charlotte, N.C., Aug. 19 - Qimonda Richmond, LLC and Qimonda North America Corp. asked the court to approve a settlement between the debtors and General Electric Capital Corp. allowing certain claims, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

A hearing is set for Sept. 9.

The settlement is related to a Dec. 21, 2007 lease agreement between Qimonda Richmond and GECC for semiconductor equipment used in Qimonda's Sandston, Va., location.

On Aug. 12, 2009, GECC filed a proof of claim for an amount "not less than $93,865,389.87," the filing said.

Under the settlement, GECC will have a have an allowed unsecured non-priority claim against Qimonda Richmond in an amount equal to $15.3 million.

Qimonda North America and Qimonda Richmond, U.S. subsidiaries of Munich, Germany-based semiconductor memory products producer Qimonda AG, filed for bankruptcy on Feb. 20, 2009. The Chapter 11 case number is 09-10589.

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