Fast Food Operators, Inc. Makes Announcement.FLORIDA, N.Y.--(BUSINESS WIRE)--March 1, 1999--Fast Food Operators, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). ) announced today that its Board of Directors has declared a final distribution pursuant to the company's plan of 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 (the plan) in the nature of a return of capital of 1.1 cent ($.011) per share on its common stock. Pursuant to the plan the company is in the process of discharging its remaining liabilities and anticipated filing for 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 within thirty days. The record date for determination of shareholders entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: to the distribution is March 10, 1999. The company will pay the distribution on March 22, 1999. |
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