|
|
Article: RECESSION CLAIMS ANOTHER LOCAL TECH FIRM.(Business)
- Article from:
- Albany Times Union (Albany, NY)
- Article date:
- August 15, 2009
CopyrightCOPYRIGHT 2009 Albany Times Union. 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)
|
MALTA -- As high-profile technology companies such as GlobalFoundries Inc. grow in the Capital Region, one more tech firm has filed for bankruptcy protection.
Starfire Systems Inc., the Malta-based maker of high-tech polymers used in the aerospace and automotive industries, filed for Chapter 11 bankruptcy protection Thursday in U.S. Bankruptcy Court in Albany.
The company, which will remain in business as it reorganizes, reported $3.6 million in debt and $2.7 million in assets.
The largest unsecured creditor is United Step 1 LLC, Starfire's former landlord at Saratoga Technology + Energy Park, which says it is owed $355,622 in back rent, an ...