CenCor Inc. stockholders approve plan of dissolution and liquidation of the company.KANSAS CITY Kansas City, two adjacent cities of the same name, one (1990 pop. 149,767), seat of Wyandotte co., NE Kansas (inc. 1859), the other (1990 pop. 435,146), Clay, Jackson, and Platte counties, NW Mo. (inc. 1850). , Mo.--(BUSINESS WIRE)--Sept. 19, 1996--CenCor Inc., which has not conducted ongoing operations since the sale of its consumer finance business in 1995, announced that its stockholders had approved, at the company's annual meeting of stockholders, a plan of dissolution Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase dissolution of a partnership. The dissolution of a contract is its Rescission by the parties themselves or by a court that nullifies its binding force and reinstates each and 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 of the company. The company's board of directors recommended adoption of the plan. Pursuant to the plan, CenCor will continue as a corporate entity for three years for the purpose of winding up its affairs, but not for the purpose of continuing the company's business. The company anticipates that its liabilities will be fully discharged or provided for and its remaining assets will be fully distributed Fully distributed A new stock issue that has been completely resold to the investing public and is no longer held by dealers. fully distributed Of or relating to a new issue of securities that has been sold out. by 1999. The plan also provides that the board of directors of the company may abandon the plan and the proposed dissolution. CONTACT: CenCor Inc., Kansas City Jack L. Brozman, 816/221-5833 |
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