Solavei creditor committee wins approval of FTI as financial adviser

By Kali Hays

New York, Oct. 8 – Solavei LLC’s official committee of unsecured creditors received authorization to employ FTI Consulting, Inc. as its financial adviser through the company’s bankruptcy case, according to a Tuesday order from the U.S. Bankruptcy Court for the Western District of Washington.

The hiring is retroactive to July 29.

As previously reported, FTI will assist the committee in its review of Solavei’s financial information, debtor-in-possession financing and possible liquidation assets while also attending meetings with the company, investors and lenders and providing expert reports for the committee when necessary, according to the motion.

Employees of FTI responsible for the committee’s needs will be paid an hourly rate between $125 and $925.

Solavei, a social commerce telecommunications company with headquarters in Bellevue, Wash., filed for bankruptcy on June 11. The Chapter 11 case number is 14-14505.

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