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
Trimble

Harris

Featured Video
Jobs
Estimator / Bidder for Rulon International at Saint Augustine, FL
Mechanical Engineer II - Requisition ID 090445 for L3 Technologies at New York, NY
ECAD Designer - Data Connectivity for Delphi at Auburn Hills, MI
Upcoming Events
17 International Multidisciplinary Scientific GeoConference SGEM 2017 at Paradise Blue Congress Center Albena Resort & SPA Bulgaria - Jun 28 - 7, 2017
LiDAR for DRONE 2017, Jun 29-30, 2017, Montpellier, France at Montpellier France - Jun 29 - 30, 2017
International Cartographic Conference 2017 at MARRIOTT WARDMAN PARK HOTEL 2660 Woodley Road NW, Washington District Of Columbia 20008 Washington - Jul 2 - 7, 2017
GI_Forum 2017 at University of Salzburg, Interfaculty Department of Geoinformatics - Z_GIS Hellbrunnerstr. 34 Salzburg Austria - Jul 4 - 7, 2017
University of Denver GIS Masters Degree Online
GeoSmartAsia
CADalog.com - Countless CAD add-ons, plug-ins and more.



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 TechJobsCafe - Technical Jobs and Resumes  MCADCafe - Mechanical Design and Engineering ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy