Silicon Graphics gets interim approval to hire Bear Stearns as financial adviser

By Caroline Salls

Pittsburgh, June 1 - Silicon Graphics, Inc. obtained interim court approval to hire Bear Stearns & Co. Inc. as the financial adviser for its Chapter 11 case, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The financial adviser's duties will include analyzing the financial impact of a potential asset sale and restructuring and financing alternatives; developing a company valuation and negotiating with creditors and other interested parties.

A final hearing is scheduled for July 25.

Silicon Graphics, a Mountain View, Calif., technology provider, filed for bankruptcy on May 8. The company's Chapter 11 case number is 06-10977.

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