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Clear Thinking Group, Myers Named Plan Trustee in Oasys Mobile Bankruptcy Case

Oct 30, 2007 (10:10 AM EDT)
URL: http://www.techweb.com/show-press-release/X651496/clear-thinking-group-myers-named-plan-trustee-in-oasys-mobile-bankruptcy-case.html

HILLSBOROUGH, N.J., Oct. 30 /PRNewswire/ -- Clear Thinking Group, LLC, a retailing/consumer products and industrial manufacturing consultancy headquartered here, and Joseph E. Myers, a partner and managing director in the firm, have been appointed plan trustee in the bankruptcy case of Oasys Mobile, Inc., a Raleigh, N.C.-based developer and publisher of branded mobile games and applications.

The appointment comes in conjunction with the approval of the company's Chapter 11 Plan of Reorganization by Judge Christopher S. Sontchi of the United States Bankruptcy Court, District of Delaware, on October 12.

Under terms of its engagement agreement with Oasys Mobile, staff from Clear Thinking Group's Creditors Rights Practice will take all actions consistent with the duties and responsibilities of the plan trustee. Such actions will include, but not be limited to, handling Oasys Mobile's estate, prosecuting claims and overseeing the distribution of funds to general unsecured creditors.

Oasys Mobile voluntarily filed for Chapter 11 bankruptcy protection on July 18, 2007. It is emerging from Chapter 11 as a privately held company, with capital funds managed by Associated Partners LP, a private investment partnership, and Rock Hill Partners, which through its affiliates manages investment funds with diversified portfolios of assets.

About Clear Thinking Group

Clear Thinking Group is a national advisory organization that provides a unique perspective on business opportunities and challenges in a variety of industries such as: retail, consumer products, manufacturing, automotive, entertainment, textiles, and temporary staffing services. For further information, visit the firm's website at www.clearthinkinggrp.com .

CONTACT: Joseph E. Myers of Clear Thinking Group, +1-908-431-2133; or Bill parnespr@optonline.netParness of Parness & Associates, , for Clear Thinking

Web site: http://www.clearthinkinggrp.com//