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BRIEF-BioNitrogen says unable to reorganize under protection of Chapter 11
2017年6月27日 / 下午5点04分 / 3 个月前

BRIEF-BioNitrogen says unable to reorganize under protection of Chapter 11

June 27 (Reuters) - BioNitrogen Holdings Corp:

* BioNitrogen announces results of chapter 11 process, the shutdown of all corporate activity and the resignation of chairman and CEO, Graham Copley

* There were no bidders for business and company was unable to raise fresh capital

* BioNitrogen has ceased all other operations, effective immediately

* Confirming that it was unable to reorganize under protection of chapter 11

* Chairman and CEO, Graham Copley will step down from his role as soon as delisting process is complete​

* Company has requested that FINRA de-list stock from OTC exchange and this request is pending approvals

* “Has been concluded that there are no business opportunities for BioNitrogen given its lack of both assets and cash”

* With agreement of all major unsecured creditors, intellectual property of co transferred to 1 secured creditor, Annon Consulting Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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