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Article: Court declares SkyPix bankrupt. (US Bankruptcy Court; SkyPix Corp. and SkyPix Joint Venture L.P.)
- Article from:
- Multichannel News
- Article date:
- September 21, 1992
- Author:
CopyrightCOPYRIGHT 1992 Reed Business Information, Inc. (US). 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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A U.S. Bankruptcy Court judge last week declared both SkyPix Corp. and SkyPix Joint Venture L.P. bankrupt. An examiner will be appointed to oversee the companies' activities until a reorganization plan is complete, attorneys said.
The court set Jan. 5, 1993, as a deadline for the companies to have concluded a reorganization plan.
Under Judge Thomas Glover's ruling last Wednesday, which was scheduled for release last Friday, SkyPix principals Fred and Richard Greenberg will remain in control of SkyPix Corp. and SkyPix Joint Venture. But their ability to transact any business without the court's approval will be sharply constrained. As general partners in a ...