Silicon Graphics Holds On To Bankruptcy Leash

Law360, New York (August 30, 2006, 12:00 AM EDT) -- Swayed by Silicon Graphics Inc.’s argument, a federal bankruptcy judge has granted the high-performance computer maker another four months to wield sole control over its reorganization process.

On Wednesday, Judge Burton R. Lifland of the U.S. Bankruptcy Court in Manhattan granted the extension request, pushing back the deadline for the company to submit a Chapter 11 proposal from Sept. 5 to Dec. 29.

The court also stretched out the computer maker's exclusive right to gain creditor support for its plan until Feb. 28, 2007, well beyond...
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