A Readfield manufacturer has emerged from bankruptcy protection after settling two lawsuits filed against it.
Saunders Manufacturing Co. Inc., which manufactures clipboards, portable desktops and iPod cases, among other items, declared Chapter 11 bankruptcy in June over two design patent infringement lawsuits, according to the Kennebec Journal. In a statement, the company said it “used provisions of the U.S. Bankruptcy Code to settle” the two cases, filed in 2007 by Texas-based Dexas International Ltd. All unsecured creditors will be paid in full, according to the statement.
Saunders, which employs about 70 people, continued to operate while in bankruptcy.
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