Judge approves SGI disclosure statement - TvTechnology

Judge approves SGI disclosure statement

A U.S. Bankruptcy Court judge found the statement to contain adequate information for the purpose of soliciting creditor approval of SGI's reorganization plan to emerge from Chapter 11 bankruptcy.
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The U.S. Bankruptcy Court judge presiding over the Silicon Graphics proceeding July 27 approved the company’s disclosure statement, an important step on the road to emerging from Chapter 11 bankruptcy.

At a hearing in New York, judge Burton Lifland ruled the disclosure statement contained adequate information for the purpose of soliciting creditor approval of SGI's reorganization plan. The company is targeting the end of September for emerging from bankruptcy.

For more information, visit: www.sgi.com.