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Article: Genesee Corporation Announces Changes in Net Assets in Liquidation.
- Article from:
- PR Newswire
- Article date:
- March 11, 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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ROCHESTER, N.Y. -- Genesee Corporation today updated management's best estimate of net assets that are expected to ultimately be distributed to shareholders by issuing its statement of net assets in liquidation and statement of changes in net assets in liquidation as of and for the third fiscal quarter ended January 26, 2002.
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 sold its brewing and equipment leasing businesses in December 2000 and its Foods Division in October 2001. In accordance with generally accepted accounting principles, the ...