As Fusion Files Chapter 11 Reorganization, 10 Executives Plan Management Buy-Out
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Fusion Systems Group has filed a petition for reorganization under Chapter 11 of the US Bankruptcy Code, and ten executives of the firm, led by managing director Steve Siegel, are attempting a management buy-out of the consulting side of Fusion's business. Siegel would become president of the new company.
Fusion filed the petition with the US Bankruptcy Court of the Southern District of New York on Dec. 30, 1996. Siegel says he and his colleagues hope to complete their management buy-out by the
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