The locally-based company, with a former global work force of 7,800, is asking the federal Bankruptcy Court in Baltimore, MD to approve Rayburn as president and CEO. Lincoln Morrison, the firm's current chairman, would be vice chairman.
Jay Alix has offices in New York, Chicago and Detroit. The firm's successful turnaround roster includes Zenith Electronics Corp and National Car Rental.
Sunterra filed for Chapter 11 protection May 31 after defaulting on a $6.5 million payment due on its $140 million in senior notes. The firm also wrote off $43 million in delinquent accounts, a move that contributed to its fourth-quarter 1999 loss of $58.4 million.
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