Spansion Inc. - 10-Q filing on 2014-08-01

Note 17 - Closure of Chapter 11 Cases	6 Months Ended
Jun. 29, 2014
Reorganizations [Abstract]
Reorganization under Chapter 11 of US Bankruptcy Code Disclosure [Text Block]	17. Closure of Chapter 11 cases Pursuant to the confirmation of the Plan of Reorganization on April 16, 2010, a claims agent was appointed to analyze and, at his discretion, contest outstanding disputed claims totaling $1.5 billion. As of June 29, 2014, the Company had resolved all outstanding disputed claims and had distributed the 46,264,760 shares of the Company’s stock that were reserved for holders of allowed general unsecured claims. On July 16, 2014, a final order was entered by the Bankruptcy Court closing all Chapter 11 cases. The Company recognized a gain of $3.2 million relating to reversal of its reserve for bankruptcy claims in the second quarter of fiscal in 2014. This amount has been recorded within Interest income and other, net in the Condensed Consolidated Statement of Operations.

Note 17 - Closure of Chapter 11 Cases

6 Months Ended

Jun. 29, 2014

Reorganization under Chapter 11 of US Bankruptcy Code Disclosure [Text Block]

17. Closure of Chapter 11 cases

Pursuant to the confirmation of the Plan of Reorganization on April 16, 2010, a claims agent was appointed to analyze and, at his discretion, contest outstanding disputed claims totaling $1.5 billion. As of June 29, 2014, the Company had resolved all outstanding disputed claims and had distributed the 46,264,760 shares of the Company’s stock that were reserved for holders of allowed general unsecured claims. On July 16, 2014, a final order was entered by the Bankruptcy Court closing all Chapter 11 cases. The Company recognized a gain of $3.2 million relating to reversal of its reserve for bankruptcy claims in the second quarter of fiscal in 2014. This amount has been recorded within Interest income and other, net in the Condensed Consolidated Statement of Operations.