Biscayne Apparels' Subsidiaries File for Protection Under Chapter 11 Bankruptcy.CLIFTON, N.J.--(BUSINESS WIRE)--May 3, 1999-- Biscayne Apparel, Inc. ("Biscayne"), (Nasdaq OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB:BISD BISD Basic Instruments and Selected Documents BISD Built-In Self Diagnosis BISD Baby-Induced Sleep Deprivation BISD Built-In Stuff Detector (polite form) ) Monday announced that its subsidiary, Biscayne Apparel International, Inc. ("BAII") and BAII's subsidiary, Mackintosh of New England, Co. ("Mackintosh") filed for protection under Chapter 11 of the Bankruptcy Code on April 30, 1999. The Chapter 11 petitions were filed in the United States Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. for the Southern District of New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of . The majority of the assets and the operations of both BAII and Mackintosh, other than accounts receivable, were sold to third parties during the fourth quarter of 1998. Biscayne and its other subsidiary, M&L International, Inc. ("M&L"), had filed for protection under Chapter 11 of the Bankruptcy Code on February 5, 1999. On March 5, 1999 Biscayne sold the operations and a substantial portion of the assets of M&L, other than accounts receivable, to a third party. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion