Silicon Graphics Files Ch. 11 Plan

Law360 (June 16, 2006, 12:00 AM EDT) -- After falling into bankruptcy protection a little over a month ago, Silicon Graphics Inc. has submitted its reorganization plan to the bankruptcy court, setting the course for the high-performance computer company to emerge from Chapter 11.

Silicon Graphics, based in Mountain View, CA, filed its plan Friday in the U.S. Bankruptcy Court for the Southern District of New York, and hopes to slash its debt by about $250 million.

The company also said the bankruptcy court granted its settlement with Goldman Sachs Group Inc. to reduce...
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