Cucos Inc. Makes Announcement.Business Editors NEW ORLEANS--(BUSINESS WIRE)--May 22, 2002 On May 20, 2002 the ACLC ACLC American Clergy Leadership Conference ACLC African Canadian Legal Clinic ACLC AMA Computer Learning Center (Philippines) ACLC Aviation Center Logistics Command ACLC Anti Car Lifting Cell (police, Pakistan) Business Loan Receivables Trust 1998-1, through Delaware Trust Capital Management, Inc. as owner trustee, and Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank, Minnesota, N.A., as indenture trustee, acting through their agent, AMRESCO Commercial Finance Inc., the principal creditor of Cucos Inc. (the "Company")(OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CUCO), served on the Company orders seizing substantially all of the Company's assets and appointing Banner Management, Inc. as keeper and receiver of those assets pending completion of foreclosure proceedings. This seizure was accomplished through court filings in federal court in the Eastern District of Louisiana The District of Louisiana or Louisiana District was an official United States government designation for the portion of the Louisiana Purchase that had not been organized into Orleans Territory. The area north of present-day Arkansas was also known as Upper Louisiana. . A similar filing in state court in Mississippi is expected to result in seizure and appointment of a receiver for the Company's assets in Mississippi. Banner Management, Inc. is expected to employ the Company's restaurant employees and continue the operation of all the Company's restaurants through foreclosure and sale. The Company does not have any other substantial assets separate from those seized today, and the Company believes that the Company is unlikely to be able to continue as a going concern. STATEMENTS MADE IN THIS PRESS RELEASE, OTHER THAN THOSE CONCERNING HISTORICAL INFORMATION, SHOULD BE CONSIDERED FORWARD LOOKING AND SUBJECT TO VARIOUS RISKS AND UNCERTAINTIES. SUCH FORWARD LOOKING STATEMENTS ARE MADE BASED ON MANAGEMENT'S BELIEF AS WELL AS ASSUMPTIONS MADE BY AND INFORMATION CURRENTLY AVAILABLE TO MANAGEMENT PURSUANT TO THE 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. PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and OF 1995. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM WHAT IS ANTICIPATED IN THESE FORWARD LOOKING STATEMENTS AS A RESULT OF A VARIETY OF FACTORS INCLUDING THOSE IDENTIFIED IN CUCOS ANNUAL REPORT ON FORM 10K FOR THE FISCAL YEAR ENDED JULY 1, 2001, AND ITS QUARTERLY REPORTS ON FORM 10Q AND SUBSEQUENT REPORTS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. Cucos Inc. common stock is traded on the NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on over-the-counter bulletin board (CUCO.OB), and the Company is headquartered 110 Veterans Boulevard, Suite 222, Metairie, Louisiana 70005. |
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