Court OKs Silicon Graphics’ Bid For Backstop Deals

Law360, New York (August 24, 2006, 12:00 AM EDT) -- Paving the way for Silicon Graphics Inc.’s emergence from Chapter 11 protection, a bankruptcy judge on Wednesday gave the company the green light to enter into backstop commitments for a rights offering to be conducted through its reorganization plan.

In court documents filed this week in the U.S. Bankruptcy Court for the Southern District of New York, U.S. Bankruptcy Judge Burton R. Lifland approved the high-performance computer maker’s bid to sign backstop commitments with several investment firms, saying the move was in the best interest of...
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