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Article: Madge Networks N.V. Announces Its Madge.web Ltd Subsidiary Enters Administration.
- Article from:
- Business Wire
- Article date:
- April 27, 2001
CopyrightCOPYRIGHT 2001 Business Wire. 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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Business Editors
AMSTERDAM, The Netherlands--(BUSINESS WIRE)--April 27, 2001
Madge Networks N.V. (Nasdaq:MADGF), a global network solutions provider, today announced that one of its subsidiary companies, Madge.web Ltd, has entered into Administration in accordance with the rules of the English courts, in a process similar to that of Chapter 11 reorganization under U.S. law. The businesses of Madge Networks, Madge.connect and Red-M (operating businesses and associated companies of Madge Networks N.V, not part of the Madge.web business) are unaffected. Madge.web entities outside the UK continue to operate normally, but may seek a similar status to ...