Finally, some real meat for a bankruptcy/technology lawyer. I've been predicting for some time now that technology companies will start to use the bankruptcy process as the industry starts to shake out. The PR aside, these filings are generally prompted by one or more strata of large debt obligations or convertable securities, and the company's inability to continue to make required payments. What DigiCash will probably do is restructure its existing debt structures while seeking partners to obtain additional cash flows needed to continue operations. I'll be interested to see how it all works out. -Warren Agin Boston, Massachusetts
FYI...
DigiCash Inc. to File Reorganization, Seeks Partners to Drive eCash Forward
PALO ALTO, CALIF.--November 4, 1998
DigiCash Inc. has announced that it is entering into a Chapter 11 reorganization to allow it to pursue strategic alternatives for its electronic cash ("eCash" T) products and the associated intellectual assets pioneered by DigiCash.
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