HIGH TECHNOLOGY
From Times Staff and Wire Reports
Computer Maker Files Chapter 11 Plan: Memorex Telex filed its creditor-approved bankruptcy reorganization plan to trim its debt and possibly go public. The Dutch-based computer maker filed the Chapter 11 petition in U.S. Bankruptcy Court in Wilmington, Del. Under separate filings for each of six units, it listed nearly $2.3 billion in assets and $2.4 billion in liabilities. The company said at least 85% of the creditors in each class voted to approve the plan. Vice Chairman David J. Faulkner said he didn’t expect the bankruptcy reorganization to last more than 60 days.
