Court Approves Terion's Plan of Reorganization; Company Expects to Emerge from Bankruptcy on August 30, 2002.Business Editors MELBOURNE, Fla.--(BUSINESS WIRE)--Aug. 15, 2002 Terion, Inc., a leading provider of trailer monitoring systems today announced 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. , Middle District of Florida, Orlando Division, confirmed Terion's plan of reorganization. The United States Bankruptcy Court approved Terion's plan on August 14, 2002, after having received the approval of all classes entitled to vote on the plan. Terion's committee of unsecured creditors Unsecured Creditor An individual or institution that lends money without obtaining specified assets as collateral. This poses a higher risk to the creditor because they have nothing to fall back on should the borrower default on the loan. A debenture holder is an unsecured creditor. supported confirmation of the plan with an effective date of August 30, 2002. Ken Cranston Kenneth Cranston, (20 October 1917 - 8 January 2007) was a cricketer who played first-class cricket for Lancashire and England for only two years, in 1947 and 1948. He retired from playing cricket to concentrate on his career as a dentist. , president of Terion, commented, "We are pleased to exit bankruptcy in such an expedited time frame. Terion's emergence validates the importance and demand for our FleetView(TM) product in the transportation industry. Our customers and investors have recognized the positive impact trailer fleet management systems can have on the efficiency of the supply chain." FleetView(TM) supplies fleet management information through the Internet from its patented innovative hardware and software design. The design integrates GPS and cellular technology for comprehensive coverage throughout the United States and Canada. The system is concealed to provide a covert installation. It communicates real-time trailer location and event status when the trailer is tethered Attached to a data or power source by wire or fiber. Contrast with untethered. to or untethered Unattached to any data or power source by wire or fiber; in other words: wireless. Contrast with tethered. from a tractor, including an accurate determination of loading and unloading events with FleetView's Cargo Sensor. The system uniquely supports over-the-air software downloads for device settings and software upgrades. Terion's FleetView(TM) operates in a standard browser environment on standard PC hardware. With approximately 50,000 units fielded, FleetView(TM) is the leading untethered trailer-tracking product in the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. market. About Terion, Inc. Terion, Inc. (www.terion.com), is a leading two-way wireless data communication and information solution provider for mobile and remote business-to-business applications focusing on the transportation industry. Terion provides valued added products and services, robust application content software accessed through the Internet, and reliable, high-quality hardware designed specifically for our target markets. |
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