FOR IMMEDIATE RELEASE
October 4, 2007
Contact: Richard John, (813) 281-0062
Tampa, FL, October 4, 2007 - Focus Management Group ("FOCUS") announced today that the United States Bankruptcy Court for the District of Delaware has entered an Order confirming Oasys Mobile, Inc.'s ("Oasys") Second Amended Plan of Reorganization. Serving as Financial Advisor, Focus successfully facilitated Oasys' emergence from bankruptcy just 72 days after its filing.
Oasys filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code on July 18, 2007. Oasys Mobile, Inc. is a growing mobile games and applications publisher with several high profile games currently in the market and available through a variety of carriers both domestically and abroad. Emerging from Chapter 11 as a privately-held company will enable Oasys to aggressively build for the long-term with streamlined operations and a strong balance sheet. Currently, Oasys Mobile has over a dozen new and franchise products in development for release during the remainder of 2007 and into 2008.
Focus Management Group was appointed Financial Advisor to Oasys Mobile, Inc. under an Order entered by the United States Bankruptcy Court for the District of Delaware, effective July 18, 2007. Focus Management Group provided Oasys Mobile with advisory services in the planning of its Chapter 11 filing and assisted the Company in the internal administration of its Chapter 11 case. The Court subsequently confirmed and approved the Debtor's Plan of Reorganization on September 28, 2007.
The Focus restructuring and bankruptcy advisory team was led by Ken Naglewski, a turnaround manager and restructuring specialist who has extensive leadership experience in Chapter 11 reorganizations, financial restructurings, operational turnarounds and distressed business sales. Naglewski, a Managing Director of Focus Management Group, is a Certified Insolvency and Restructuring Advisor and a Certified Turnaround Professional. He can be reached at 813-281-0062 or k.naglewski@focusmg.com.
About Focus Management Group
Focus Management Group offers nationwide capabilities in turnaround management, business restructuring and asset recovery. Headquartered in Tampa, FL, with offices in Atlanta, Chicago, Cleveland, Greenwich, Los Angeles and Nashville, Focus Management Group provides turn-key support to stakeholders including secured lenders and equity sponsors. The Company provides a comprehensive array of services including turnaround management, interim management, operational analysis and process improvement, bank and creditor negotiation, asset recovery, recapitalization services and investment bankers to distressed companies.
Over the past decade, Focus Management Group has successfully assisted hundreds of clients operating in diverse industries, guiding them to maximize performance or asset recovery. Adverse situations are Focus Management Group’s forte – finding winning compromises in a timely manner when faced with the most discouraging of circumstances is what separates Focus Management Group from the competition.