think3 Inc. Files for Chapter 11 Bankruptcy Protection

AUSTIN, Texas — (BUSINESS WIRE) — May 25, 2011 — think3 Inc., based in Austin, Texas, announced that it filed for Chapter 11 bankruptcy protection in the Western District of Texas, Austin Division, on May 18.

“We determined that this was the best course of action to preserve value for think3,” said Becky Roof, think3’s Chief Restructuring Officer. “Certain actions taken by the Italian trustee appointed for insolvency proceedings of think3’s Italian registered branch and subsidiary have caused disruptions in think3’s business and resulted in a lawsuit being filed against think3 by Versata FZ-LLC. We hope to have speedy and productive discussions among all parties to quickly resolve these issues. In the meantime, Versata has advised think3 that Versata intends to continue to service, support, and further develop the think3 products that Versata acquired.”

During hearings held on May 23, think3 received interim approval for secured post-petition financing and authority to employ AP Services LLC as crisis managers and Rebecca A. Roof as President, Secretary, and Chief Restructuring Officer.

About think3 Inc.

think3 Inc. is engaged in the business of computer software creation, licensing, sales and support. Its products include Computer Aided Design (“CAD”) and Product Lifecycle Management (“PLM”). think3, Inc. develops and sells the think3 products exclusively for the China market. The think3 product portfolio – which includes ThinkDesign, ThinkPLM, and ThinkDesign PLM – are developed and sold in the US, Europe, and other markets in Asia by Versata.



Contact:

think3 Inc.
Becky Roof, 888-369-8931
Email Contact




Review Article Be the first to review this article
Featured Video
Jobs
CAD Design Specialist I for Waterpik, Inc. at Fort Collins, CO
IT Analyst III (GIS) for Orange County Sanitation District at Fountain Valley, CA
Upcoming Events
MOULDING EXPO at Messepiazza 1 70629 Stuttgart Germany - May 30 - 2, 2017
32nd International Forum on Design for Manufacture and Assembly (DFMA) at Crowne Plaza Hotel 801 Greenwich Avenue Warwick RI - Jun 6 - 7, 2017
Collier Research Composites Design Summer Training Class at 760 Pilot House Drive Newport News VA - Jun 12 - 16, 2017
2017 ESPRIT World Conference at Universal City CA - Jun 12 - 16, 2017
SolidCAM: 10K CAM Contest
MasterCAM



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise