Printer Friendly

CASCADE INTERNATIONAL TO REORGANIZE, CONTINUE OPERATIONS

 CASCADE INTERNATIONAL TO REORGANIZE, CONTINUE OPERATIONS
 BOCA RATON, Fla., Dec. 13 /PRNewswire/ -- Aaron Karp, interim chairman of Cascade International, Inc. reported today that the board of directors of the company has authorized the filing of a voluntary petition for reorganization and intends to continue the company's operations as a debtor-in-possession under the provisions of the Federal Bankruptcy Code. He said the filing would take place early next week. The company expects to file an appropriate plan for the restructuring of its finances and operations with the applicable time permitted by the Code. Karp stated that the company's securities had been removed from trading on the NASDAQ system. He would give no details concerning the proposed plan of reorganization, nor would he predict when the company would seek to lift the halt in the trading of its securities.
 Robert Furr of the firm Furr & Cohen, PA of Boca Raton, Fla., will act as bankruptcy counsel to the company in this reorganization proceeding.
 -0- 12/13/91
 /CONTACT: Aaron Karp of Karp & Sommers, 212-935-9060, for Cascade International/ CO: Cascade International ST: Florida IN: REA SU: BCY


SS-JJ -- FL009 -- 2511 12/13/91 16:28 EST
COPYRIGHT 1991 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1991 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Dec 13, 1991
Words:193
Previous Article:WORKINGMENS CORPORATION REPORTS SECOND QUARTER RESULTS
Next Article:RICHARD BROYD ELECTED CHAIRMAN OF ROBERTSON-CECO CORPORATION


Related Articles
CONSTON ISSUES ANNOUNCEMENT CONCERNING CASCADE INTERNATIONAL
CASCADE INTERNATIONAL NEARS COMPLETION OF INTERNAL REVIEW
CONSTON ISSUES ANNOUNCEMENT
CONSTON CORPORATION ISSUES ANNOUNCEMENT
BOISE CASCADE PURCHASES FREDERICK-SHERRY OFFICE SUPPLY CO.
BOISE CASCADE ISSUES STATEMENT
BOISE CASCADE ANNOUNCES OFFICE PRODUCTS EXPANSION
CASCADE REPORTS RECORD SALES AND EARNINGS FOR THE FIRST QUARTER
Bankruptcies.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters