Silicon Graphics Files Ch. 11 Plan

Law360, New York (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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.