WorldSpace looks to hire Schmitz as chief restructuring officer

By Caroline Salls

Pittsburgh, Oct. 21 - WorldSpace, Inc. requested court approval to appoint Robert A. Schmitz as its chief restructuring officer, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Schmitz will be appointed under a services agreement with Quest Turnaround Advisors, LLC.

WorldSpace said its debtor-in-possession facility commitment is conditioned on appointing Schmitz as its CRO.

A hearing is scheduled for Nov. 10.

WorldSpace, based in Silver Spring, Md., has established an operational satellite-based digital radio system, commonly known as Digital Audio Radio Service, and is a licensed DARS provider. The company filed for bankruptcy on Oct. 17. Its Chapter 11 case number is 08-12412.

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