Asyst Technologies, Inc. (fka ASYTQ)

[trader53]

Founder77: Interesting choice of wording in this article/PR.

Reference made to:

1. The new entity....
2. "As a combined entity we will be better positioned....

Also:

"The acquisition of Asyst's strong product set, along with its existing global sales and service capabilities, offered an ideal opportunity to Crossing to enter this market space in a leading position."

"Crossing's existing investment partners Tallwood Venture Capital and Intel Capital continue to support the company's expansion. Specific terms of the agreement were not disclosed."

"Crossing has gone from start-up to an established player overnight by acquiring this technology."

http://www.thefreelibrary.com/Crossing+Automation+Signs+Definitive+Agreement+to+Acquire+Asyst...-a0204915099


Also: Key Bank was the biggest claimant with an amount of
$78 Million owed to it, but below, it seems to indicate that Key Bank is now not making a claim.


http://www.faqs.org/sec-filings/100312/ASYST-TECHNOLOGIES-INC_8-K/f55252exv99w1.htm

12. Acceptance or Rejection by Certain Classes (11 U.S.C. § 1129(a)(8)). The Plan does not satisfy section 1129(a)(8) of the Bankruptcy Code because the Plan was deemed rejected by the Deemed Rejected Classes. Notwithstanding the lack of compliance with section 1129(a)(8) of the Bankruptcy Code , the Plan is confirmable because, as described below, the Plan satisfies section 1129(b) of the Bankruptcy Code with respect to the Deemed Rejected Classes. As set forth in the Voting Declarations, the Impaired Class entitled to vote voted as follows:

Votes to Accept the Plan Votes to Reject the Plan
Number Amount Number Amount
Class 1 4 100 % $ 78,920,289.03 100 % 0 0 % $ 0 0 %



5. Plan Objections. In response to the Plan Objections by Crossing Automation, Inc. (“Crossing”) and Intel Corporation (“Intel” and, together with Crossing, “Crossing/Intel”), on the one hand, the Debtor and Key Bank, as agent for the pre-petition lenders (“Debtor/Key Bank”), on the other hand, agreed on the record that $254,175.06 shall be paid forthwith by the Debtor to Crossing. Upon such payment, Crossing/Intel on the one hand, and Debtor/Key Bank, on the other,

*****shall generally and mutually release each other from any and all claims whatsoever, known or unknown, arising in or any way related to the Asyst bankruptcy case*********


and the parties expressly waive the protection of Cal. Civ. Code 1542 , which is incorporated herein. Crossing and Intel are not releasing any claims which may exist between each other, KeyBank is not releasing any claims against Crossing or Intel unrelated to the Debtor, Crossing and Intel are not releasing any claims against Key Bank unrelated to the Debtor, and the Debtor is not releasing any claims of the Debtor against Mr. Clegg.

What is your interpretation Founder ?