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RIM Hires Law Firm to Aid in Restructuring

by Sean P. Aune | April 21, 2012April 21, 2012 10:00 am PST

RIM Financial Report

Research In Motion has reportedly hired a law firm to aid with its restructuring plans, and it would seem that no option is currently off of the table.

According to an exclusive report to Reuters, RIM has retained the services of  Milbank, Tweed, Hadley & McCloy LLP to assist in its plans to restructure the firm.  This follows on the heels of a report from earlier this week that the company was looking into the possibility of hiring a bank to assist with some strategic choices which might even include an outright sale.  The sources that spoke of the law firm said that it appears that the current plan calls to hold off on involving a bank until RIM is positive that it is going to sell anything off.

While the law firm is declining to comment on whether or not it has been hired, the sources that revealed the information said that RIM is leaving both a potential sale of assets and the licensing of its patents on the table.

It seems unmistakable that RIM is in some sort of motion on a plan, but it may be some time before it is completely clear on what exact course it may take.

[via Reuters]

Sean P. Aune

Sean P. Aune has been a professional technology blogger since July 2007, but his love of tech dates back to at least 1976 when his parents bought...