CORRECTING and REPLACING Bankruptcy Hearing Scheduled for Westar Financial on June 7; For Approval of Disclosure Statement in Support of Plan of Liquidation.Business Editors CORRECTION...By Westar Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. TACOMA & SEATTLE, Wash.--(BUSINESS WIRE)--April 28, 2004 In BW5830 issued April 28, 2004: First graph, first sentence of release should read: Westar Financial Services, Inc. (Pink Sheets:WSFIQ) (sted Westar Financial Services, Inc. (Pink:WFSIQ)) The corrected release reads: BANKRUPTCY bankruptcy, in law, settlement of the liabilities of a person or organization wholly or partially unable to meet financial obligations. The purposes are to distribute, through a court-appointed receiver, the bankrupt's assets equitably among creditors and, in most HEARING SCHEDULED FOR WESTAR FINANCIAL ON JUNE 7; FOR APPROVAL OF DISCLOSURE STATEMENT IN SUPPORT OF PLAN OF LIQUIDATION The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy Westar Financial Services, Inc. (Pink Sheets:WSFIQ), Chapter 11 debtor in possession debtor in possession n. in bankruptcy proceedings when a debtor has filed for the right to submit a plan for reorganization or refinancing under Chapter 11, and the debtor is allowed to continue to manage his/her/its business without an appointed trustee, that debtor , has noted a motion with the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. 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 Western District of Washington for approval of its Disclosure Statement in support of its Plan of Liquidation. Hearing on the motion is scheduled as follows:
Location: Tacoma, Washington
Date: June 7, 2004, 9:30 a.m.
Response Date: May 24, 2004
Address: United States Bankruptcy Court,
Courtroom I, 1717 Pacific Avenue,
Tacoma, Washington
The Disclosure Statement may be viewed in the Office of the Clerk of the Bankruptcy Court in Tacoma during business hours BUSINESS HOURS. The time of the day during which business is transacted. In respect to the time of presentment and demand of bills and notes, business hours generally range through the whole day down to the hours of rest in the evening, except when the paper is payable it a bank or by a . Copies of the Disclosure Statement, the Notice of the Hearing, and subsequent notices can be viewed at www.stockvalues.com/clients/westar.htm. Parties may request a copy of the Disclosure Statement from Bush Strout & Kornfeld at 601 Union St. Suite 5500, Seattle, WA 98101 or at 206-292-2110. Any party opposing approval of the proposed Disclosure Statement must make a written objection, file the objection with the Clerk of the Bankruptcy Court, and provide a copy of it to Bush Strout & Kornfeld no later than May 24, 2004. If any objections are received, a meeting will be held on Tuesday, May 25, 2004, at 10:00 a.m. at the offices of Bush Strout & Kornfeld. The purpose of the meeting will be to attempt to resolve objections to the Disclosure Statement prior to the hearing. Parties filing written objections must attend this meeting, either in person or through counsel. Should the court approve the Disclosure Statement, copies of it and the proposed Plan of Liquidation will be mailed to all interested parties, including shareholders of record on or about June 14, 2004. Shareholders will vote on the Plan of Liquidation. If the Bankruptcy Court confirms the Plan of Liquidation, trading of Westar's shares will be suspended sus·pend v. sus·pend·ed, sus·pend·ing, sus·pends v.tr. 1. To bar for a period from a privilege, office, or position, usually as a punishment: suspend a student from school. . Shareholders of record on the date of suspension will receive treatment pursuant to the terms of the proposed Plan of Liquidation. |
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