Former OCZ Technology approved to hire Boates as CRO by court order

By Kali Hays

New York, Feb. 24 - A court approved ZCO Liquidating Corp., formerly known as OCZ Technology Group, Inc., to employ Timothy D. Boates of RAS Management Advisors as its chief restructuring officer and other temporary staff from RAS, according to a Monday order with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, the company's executive officers resigned after the sale of substantially all of its assets. The company sought Boates to oversee the wind-down of its business and its Chapter 11 case.

The hiring of Boates and the temporary staff are retroactive to Jan. 23, and ZCO's employment of RAS as financial adviser is terminated as of that same date.

The order also stipulated that the company provide a monthly staffing, compensation and expenses report with the court, the U.S. trustee and the official committee of unsecured creditors.

OCZ, a Sunnyvale, Calif.-based producer of computer memory and components, filed for bankruptcy on Dec. 2. The Chapter 11 case number is 13-13126.

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