Storagetek Objects To SGI’s Reorganization Plan

Law360, New York (August 31, 2006, 12:00 AM EDT) -- In a motion filed Wednesday, Storage Technology Corp. objected to Silicon Graphics Inc.’s reorganization plan, stating the plan proposes to limit and postpone the payment of over $1 million owed to Storagetek.

According to the motion, Storagetek and SGI are in a remarketing agreement dating back to 1998 in which Storagetek agreed to sell computer data storage products to SGI for resale or lease to its customers.

When SGI filed for bankruptcy protection, it owed Storagetek $743,935 for data storage equipment and products, Storagetek claims. SGI...
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