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LGE Agrees Not To Sue Until SGI Emerges from Ch. 11

Law360 (September 11, 2006, 12:00 AM EDT) -- Silicon Graphics Inc. and LG Electronics Inc. have reached an agreement in regards to LGE’s attempts for relief from an automatic stay under the bankruptcy code.

Under the agreement, LGE will withdraw the stay of relief motion without prejudice and will not file an objection to the confirmation of SGI’s plan to emerge from Chapter 11 bankruptcy protection.

LGE also retains the right to sue SGI post-bankruptcy.

A hearing on confirmation of SGI’s reorganization plan is scheduled for Sept. 19.

LGE sought court permission in early...
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