SGI Wins Approval To Limit Equity Trades

Law360, New York (June 1, 2006, 12:00 AM EDT) -- Less than a month after Silicon Graphics Inc. asked a bankruptcy court to limit large trades of its equity, the high-performance computer maker has won final court approval to do so in a bid it hopes will help to protect certain tax benefits.

Judge Allan L. Gropper of the U.S. Bankruptcy Court granted the bid this week, saying unrestricted trading of Silicon Graphics' stock could "severely limit” the company’s ability to use net operating loss carryforwards to offset future tax liabilities.

Now shareholders owning at least...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.