Former A123 Systems closes two debtors cases pursuant to plan

By Jim Witters

Wilmington, Del., July 3 - Two debtors' cases have been closed in bankruptcy of B456 Systems, Inc., formerly A123 Systems, Inc., according to documents filed July 3 with the U.S. Bankruptcy Court for the District of Delaware.

At the request of the liquidating trustee, the cases of Grid Storage Holdings and B456 Securities Corp. were closed by judge Kevin J. Carey.

As previously reported, the Chapter 11 plan of liquidation became effective on June 28. The court confirmed the Chapter 11 plan on May 20.

The debtors completed the sale of substantially all of their non-government business assets to A123 Systems LLC, a newly formed, wholly owned subsidiary of Wanxiang America Corp., on Jan. 29.

The debtors also completed the sale of their government-related assets to Navitas Systems LLC.

Based in Waltham, Mass., A123 designs, develops, manufactures and sells rechargeable lithium-ion batteries and battery systems. The company filed for bankruptcy on Oct. 16, 2012 in the U.S. Bankruptcy Court for the District of Delaware under Chapter 11 case number 12-12859.

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