Commodore's Subsidiaries in & then out of Bankruptcy
Posted: Wed Apr 30, 2008 9:41 pm
Nearly all of my contacts at "new" Commodore have quit in the last 3 months and as such, I will not be able to provide much in the way of insight into the real meaning of such announcements:
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April 29, 2008: http://pinksheets.com/pink/quote/quote.jsp?symbol=cdrl
CIC Colorado Announces Rewinding of Bankruptcy of Commodore International BV
BAARN, The Netherlands, Apr 29, 2008 (BUSINESS WIRE) -- Commodore International Corp. (CIC) (OTC:CDRL) announced today that the court in 's-Hertogenbosch, The Netherlands, has decided to rewind the bankruptcy of Commodore International BV, a subsidiary of Commodore International Corporation.
On April 15, 2008 the court declared bankruptcy of Commodore International BV based on procedural mistakes as earlier announced on April 21 2008. More details about this case were announced during the Special Shareholders Meeting held in Amsterdam on April 25, 2008.
As a result of today's court decision this case has been concluded successfully
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April 21, 2008: http://www.commodorecorp.com/corporate/ ... ision.aspx
(CIC) (OTC:CDRL) was informed by the court in ‘s-Hertogenbosch (The Netherlands) that one of its subsidiaries, Commodore International BV, was declared bankrupt. In the meantime it has been established by both CIC and the petitioning party that procedural mistakes resulting in this judicial declaration were made erroneously beyond CIC’s control. The petitioner and CIC had already concluded a written agreement for the cancellation of the bankruptcy proceedings and mutually confirmed. CIC, in cooperation with the petitioner and all parties involved, is in the process of submitting an objection to this declaration. It is expected that this will be resolved in the course of next week. CIC will further inform once this result is known.
For the avoidance of doubt we would like to stress that this bankruptcy declaration of the named subsidiary does not involve CIC’s operational entities either in the Netherlands or elsewhere.
Commodore stock now sits at $.03... its another sad day at Commodore.
____________________________
April 29, 2008: http://pinksheets.com/pink/quote/quote.jsp?symbol=cdrl
CIC Colorado Announces Rewinding of Bankruptcy of Commodore International BV
BAARN, The Netherlands, Apr 29, 2008 (BUSINESS WIRE) -- Commodore International Corp. (CIC) (OTC:CDRL) announced today that the court in 's-Hertogenbosch, The Netherlands, has decided to rewind the bankruptcy of Commodore International BV, a subsidiary of Commodore International Corporation.
On April 15, 2008 the court declared bankruptcy of Commodore International BV based on procedural mistakes as earlier announced on April 21 2008. More details about this case were announced during the Special Shareholders Meeting held in Amsterdam on April 25, 2008.
As a result of today's court decision this case has been concluded successfully
___________________________________
April 21, 2008: http://www.commodorecorp.com/corporate/ ... ision.aspx
(CIC) (OTC:CDRL) was informed by the court in ‘s-Hertogenbosch (The Netherlands) that one of its subsidiaries, Commodore International BV, was declared bankrupt. In the meantime it has been established by both CIC and the petitioning party that procedural mistakes resulting in this judicial declaration were made erroneously beyond CIC’s control. The petitioner and CIC had already concluded a written agreement for the cancellation of the bankruptcy proceedings and mutually confirmed. CIC, in cooperation with the petitioner and all parties involved, is in the process of submitting an objection to this declaration. It is expected that this will be resolved in the course of next week. CIC will further inform once this result is known.
For the avoidance of doubt we would like to stress that this bankruptcy declaration of the named subsidiary does not involve CIC’s operational entities either in the Netherlands or elsewhere.
Commodore stock now sits at $.03... its another sad day at Commodore.