Creditors File Petition for Bankruptcy Against Oretech, Inc.COLUMBUS, Ga. -- The following creditors of Oretech, Inc. today announced that they have filed an involuntary petition for bankruptcy against Oretech, Inc. (Pink Sheets:ORTE) and affiliated predecessor companies ("Ortech"), under Chapter 11 of the Bankruptcy code Bankruptcy Code may refer to:
The total claims of these six creditors amounts to $832,143 for unsecured debt Unsecured debt Debt that does not identify specific assets that the debtholder is entitled to in case of default. and unpaid wages. In other matters on October 4, 2005, Christopher Kiggins has resigned as Secretary, Treasurer and Director of Oretech, Inc., a Nevada Corporation A Nevada Corporation is a corporation chartered under the laws of the U.S. state of Nevada. Nevada, like the state of Delaware (See Delaware corporation), is well known as a corporate haven. effective October 4, 2005. The petitioning creditors respectfully request that management of Oretech file the appropriate disclosure statements with the Securities and Exchange Commission regarding both the bankruptcy petition and the resignation of Christopher Kiggins. Statements in this news release that are not descriptions of historical facts are forward-looking statements that are subject to risks and uncertainties. Words such as "expect," "intends," "believes," "plans," "anticipates," "approximately," and "likely," also identify forward-looking statements. All forward-looking statements are based on current facts and analyses. Actual results may differ materially from those currently anticipated due to a number of factors including, but not limited to history of operating losses, anticipated future losses, competition, future capital needs, the need for market acceptance, dependence upon third parties, disruption of vital infrastructure, disruption of communications services marketplace, and due to natural disaster. All forward-looking statements are made pursuant to the 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. Reform Act of 1995. |
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