Philip files Chapter 11. (Scrap Industry News).Philip Philip, tetrarch of Ituraea Philip, d. A.D. 34, tetrarch of Ituraea, son of Herod the Great. He was perhaps the ablest of the Herod dynasty. He is mentioned in the Gospel of St. Luke. Services Corp. (PSC (Public Service Commission) Same as PUC. ), Houston, and most of its wholly owned U.S. subsidiaries have filed voluntary petitions under Chapter 11 of the Federal Bankruptcy Code Bankruptcy Code may refer to:
"Our existing debt is too high for our businesses," says Robert Knauss, PSC principal executive officer and chairman of the board. "We currently have funding available, which will permit us to continue to operate while we pursue strategic alternatives." Among those strategic alternatives is the sale of assets and locations, including a number of scrap processing facilities in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . "Our primary avenue is to pursue a sale of all or substantially all the assets of the company as a going concern pursuant to Section 363 of the Bankruptcy Code," says Krauss. "We will seek bids in the market place for the company as a whole or by strategic operational unit and expect to present the highest and best bid or bids to the Court in August." |
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