ROSH HAYAIN, Israel, Sept. 1, 2013 (GLOBE NEWSWIRE) -- Alvarion ® Ltd. (in Receivership) (Nasdaq:ALVR), a global provider of optimized wireless broadband solutions addressing the connectivity, coverage and capacity challenges of public and private networks, announced today that the court granted two motions submitted by Mr. Yoav Kfir, the court-appointed Receiver, as follows:
- Motion to continue the process of appeal to Nasdaq for continued listing of the Company's shares, and for that purpose incur additional expenses and make payments to advisors.
- Motion to extend the ongoing operation of the Company, through September 15, 2013. This extension will allow for the orderly completion of the sale of the Company to Valley Telecom (subject to the Court's approval), and will give Valley Telecom time to assume the management and financing of the Company's operations commencing on September 15, 2013.
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