Telogy granted court OK to hire Alvarez & Marsal as financial adviser

By Caroline Salls

Pittsburgh, March 8 - Telogy Inc. obtained court approval to hire Alvarez & Marsal, LLC as the financial adviser for the company's Chapter 11 case, according to a Tuesday filing with the U.S. Bankruptcy Court for the Northern District of California.

The financial adviser's duties will include preparing a comprehensive analysis of the company's business, operations, financial condition and prospects; assessing cash flow and income projections and developing an interactive financial model projecting the company's future financial performance; determining funding requirements and negotiating and structuring debtor-in-possession and exit financing; assisting with development of a restructuring plan and negotiating with key creditors.

Telogy, a Union City, Calif.-based electronics testing company, filed for bankruptcy on Nov. 29. Its Chapter 11 case number is 05-49371.

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