Satcon Technology Corp., which filed for bankruptcy last week, says that the U.S. Bankruptcy Court for the District of Delaware has granted the company's request to honor product warranty programs for existing Satcon products.
Satcon will also be able to extend warranties to customers on future Satcon products in the ordinary course of business. These key programs enable Satcon to continue to provide the critical post-sale service and support as part of its ongoing day-to-day operations.
In addition to ongoing warranty support, Satcon will be offering additional assurances to its customers by establishing an intellectual property (IP) escrow account with an IP escrow service. According to Satcon, the account will house the core technical drawings, source code and supplier information needed in order to ensure that Satcon customers have the continued ability to support and service their Satcon equipment in the event that the company or its successors are not able to provide these services in the future.
