Printer Friendly

INAV TRAVEL EMERGES FROM TWISTEE TREAT CHAPTER 11 BANKRUPTCY -- ANNOUNCES FINAL DECREE

 INAV TRAVEL EMERGES FROM TWISTEE TREAT CHAPTER 11 BANKRUPTCY --
 ANNOUNCES FINAL DECREE
 FORT WORTH, Aug. 4 /PRNewswire/ -- INAV Travel Corp. (NASDAQ: INAV) announced today that it has emerged from bankruptcy with the issuance of the final decree by the United States Court for the Middle District of Florida in the Twistee Treat Chapter 11 Bankruptcy Case.
 INAV Travel Corporation was organized in February 1991 when Thomas Enterprises, a Fort Worth, Texas, corporation merged with Twistee Treat Corporation, which was in a non-operating status under Chapter 11.
 The Final Decree issued by the Court approved the Plan of Reorganization, recognized the company's compliance with the Plan, and absolved the need of the Court to retain jurisdiction until the full consummation of the Plan.
 During the past quarter, INAV concentrated on the sale of its assets held for resale, greatly reduced promotion activities in its fishing equipment mail order business, and commenced arrangements with remaining creditors. Following the sale last month of INAV's travel agency, its primary business, the company is now examining other business opportunities including mergers.
 The company also reported that it has requested a temporary exception from NASDAQ in regard to that organization's new $1/share minimum bid requirement for stock traded on NASDAQ.
 -0- 8/4/92
 /CONTACT: Henry T. Stanley or Lucy Singleton of INAV Travel, 817-332-1189/
 (INAV) CO: INAV Travel Corp. ST: Florida IN: SU:


SH -- NY059 -- 6781 08/04/92 16:00 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 4, 1992
Words:238
Previous Article:PROPOSED LENDING RULES WILL HURT HOUSING, THE ECONOMY, ACCORDING TO NAHB
Next Article:MOTOWN HAS NO PLANS TO RELEASE THE JACKSONS MINI-SERIES VIDEO
Topics:


Related Articles
INAV TRAVEL CORP. ACQUIRES TWO COMPANIES THROUGH SHARE EXCHANGE AGREEMENTS; INAV TO BE RENAMED MEDBANC DATA CORP.
INAV TRAVEL CORP. ACQUIRES TWO COMPANIES THROUGH SHARE EXCHANGE AGREEMENTS; INAV TO BE RENAMED MEDBANC DATA CORP.
INAV TRAVEL CORP. ANNOUNCES QUARTER ENDED MARCH 31, 1996 RESULTS
Pioneer Emerges from Chapter 11.
Twistee Treat Corporation.
Twistee Treat expands marketing program.
GMCH Signs Co-Branding Agreement with Twistee Treat.
Twistee Treat looks international.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters