Chester Holdings, Ltd. Clarifies Red Mountain Transaction.Business Editors SIMPSONVILLE Simpsonville can refer to any of the following:
Chester Chester, city and district, England Chester, city (1991 pop. 80,154) and district, Cheshire, W central England, on a sandstone height above the Dee River. It is a railroad junction. Manufactures include electrical equipment, paint, and window panes. Holdings, Ltd. (Pink Sheets: CHES) today announced it has become legally necessary to refrain from completing the Red Mountain transaction until after the Confirmation of the Chester Holdings Chapter 11 filing. Also, the proposed new members of the Board of Directors will not join the Board until after the Confirmation. The Company today learned that completing before the Confirmation would only serve to delay the process. It is anticipated that the transaction will be completed concurrent with the Confirmation of the Plan. "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement under the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995; to the extent that this press release makes statements about the future, such statements are forward looking and subject to a number of risks and uncertainties. These risks could effect the ability of the Company to successfully reorganize re·or·gan·ize v. re·or·gan·ized, re·or·gan·iz·ing, re·or·gan·iz·es v.tr. To organize again or anew. v.intr. To undergo or effect changes in organization. and resume operations as stated in any forward looking statements by, or on behalf of the Company. There is no assurance that the Company will be able to achieve any of its intended objectives. |
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