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Metalforming gets court OK to hire financial, restructuring adviser
By Caroline Salls
Pittsburgh, July 18 - Metalforming Technologies, Inc. obtained court authorization to hire Conway, Del Genio, Gries & Co., LLC as financial and restructuring adviser, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.
The duties of the adviser will include:
*Reviewing the company's short-term liquidity forecasts and assisting management in updating them;
*Assisting the company in evaluating strategic alternatives;
*Assisting in the development, evaluation, negotiation, and execution of a potential restructuring plan or plan of reorganization;
*Assisting in evaluating divisional/business unit performance and long-term viability;
*Assisting in obtaining debtor-in-possession financing and/or preparing and negotiating cash collateral arrangements;
*Assisting with the preparation of reports and communications with lenders;
*Assisting with preparation of a disclosure statement; and
*Assisting in obtaining exit financing.
Metalforming, a Chicago-based automobile parts manufacturer, filed for bankruptcy on June 16. Its Chapter 11 case number is 05-11697.
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