Administrators have revealed that 170 research and development jobs at Birminghambased mobile phone maker Sendo have been saved - but a major creditor is owed £83.7 million.
A spokeswoman for the restructuring group Kroll said 20 jobs at the operation had been shed.
Key parts of the business were snapped up by US electronics giant Motorola after the ailing firm called in administrators on Tuesday.
The deal saw Sendo's research and development expertise - as well as its valuable intellectual property portfolio - change hands.
And Motorola has stressed it is not acquiring the 'larger business' of Sendo - in essence its overseas manufacturing arm and supply relationships, or any of its assets, liabilities or financial obligations.
The Kroll spokeswoman said the Sendo operation comprised of Sendo Holdings, Sendo Ltd and Sendo International.
Celestica, the Canadian handset company was a secured creditor of Sendo Ltd and Sendo International and she said it was owed a total of $ 150 million - around £83.7 million.
She confirmed 170 Birmingham-based jobs would be transferred to Motorola's mobile devices division, however there had been 20 jobs lost in the city.
But she said: "From an administrators point of view it is good news that 170 jobs are still present. Buyers will be sought for the parts of the business not taken on by Motorola."
A spokeswoman for Motorola said the 170 remaining Birmingham staff had been taken on by the company and would continue to work in Birmingham.