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Article: Genesee Corporation Issues Statement of Net Assets in Liquidation.
- Article from:
- PR Newswire
- Article date:
- September 10, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Genesee Corporation today issued its statement of net assets in liquidation and statement of changes in net assets in liquidation as of and for the fiscal 2004 first quarter ended August 2, 2003.
The Corporation is currently operating under a plan of liquidation and dissolution that was approved by shareholders in October 2000. Under this plan, the Corporation has divested its operating businesses and liquidated substantially all of its other assets. In accordance with generally accepted accounting principles, the Corporation has adopted the liquidation basis of accounting, under which the Corporation reports net assets in liquidation and changes in net assets ...