December 13, 2013
Kelley Drye has been retained as counsel to the Official Committee of Unsecured Creditors of OCZ Technology Group, Inc. OCZ filed its petition under chapter 11 of the Bankruptcy Code on December 2, 2013 in the United States Bankruptcy Court for the District of Delaware. On December 13, 2013, the Committee selected Kelley Drye as its bankruptcy counsel.
Formed in 2002 and headquartered in San Ignacio, California, OCZ is a leader in the design, manufacturing, and distribution of high-performance solid-state storage solutions and premium computer components. OCZ also designs and develops power supplies for personal computers and industrial devices.
OCZ entered chapter 11 to sell the assets related to its storage solutions business to Toshiba Corporation and Toshiba America Electronics Corporation, or the highest and best bidder at an auction, with the intention of closing that sale within the first quarter of 2014. Kelley Drye is working with OCZ, its secured lenders, and Toshiba to maximize value for unsecured creditors.
The Kelley Drye team is led by partner Eric R. Wilson and includes special counsel Jason R. Adams and associates Gilbert R. Saydah, Jr. and Jennifer D. Raviele.