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Article: Actrade Financial Technologies Ltd. Files for Chapter 11 Bankruptcy Protection.
- Article from:
- PR Newswire
- Article date:
- December 12, 2002
CopyrightCOPYRIGHT 2002 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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Actrade Financial Technologies Ltd. ("Actrade" or the "Company") announced today that it and one of its subsidiaries, Actrade Capital Inc. ("Capital"), have today filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code ("Chapter 11") in the Bankruptcy Court for the Southern District of New York (the "Bankruptcy Court"). Chapter 11 allows the Company to continue operating its business while under the jurisdiction of the Bankruptcy Court. Except for Capital, the Chapter 11 filings do not include any of the Company's other subsidiaries.
Actrade also announced today the following recent developments:
1.Appointment of ...