BASXQ .0008 X.0009 ^60% 22X 10DAY-AVG-VOL Credi
Post# of 102755
Posted On: 08/05/2015 2:23:55 PM
BASXQ .0008 X.0009 ^60% 22X 10DAY-AVG-VOL
Creditors Approve Baxano's Chapter 11 Plan -- Market Talk
DOW JONES & COMPANY, INC. 6:17 PM ET 7/21/2015
Symbol Last Price Change
BAXSQ 0.0003down 0 (0%)
QUOTES AS OF 03:52:07 PM ET 07/24/2015
2216 GMT [DOW JONES] Baxano Surgical Inc.(BAXSQ) won widespread creditor support for a chapter 11 plan that divvies up the proceeds from the sale of its surgical product lines. About 98% of the company's unsecured creditors voted to approve the plan, and all other creditors voted unanimously in favor. Under the proposed liquidation plan, recovery for unsecured creditors, owed more than $19 million, will depend entirely on the outcome of future litigation, court papers show. The plan will go before a bankruptcy judge for final approval Friday. Raleigh, N.C.-based Baxano, which designed minimally invasive surgical products used in the treatment of degenerative spine conditions, filed for chapter 11 protection last November. (tom.corrigan@wsj.com)
(END) Dow Jones Newswires
07-21-151817ET
Copyright (c) 2015 Dow Jones & Company, Inc.
Creditors Approve Baxano's Chapter 11 Plan -- Market Talk
DOW JONES & COMPANY, INC. 6:17 PM ET 7/21/2015
Symbol Last Price Change
BAXSQ 0.0003down 0 (0%)
QUOTES AS OF 03:52:07 PM ET 07/24/2015
2216 GMT [DOW JONES] Baxano Surgical Inc.(BAXSQ) won widespread creditor support for a chapter 11 plan that divvies up the proceeds from the sale of its surgical product lines. About 98% of the company's unsecured creditors voted to approve the plan, and all other creditors voted unanimously in favor. Under the proposed liquidation plan, recovery for unsecured creditors, owed more than $19 million, will depend entirely on the outcome of future litigation, court papers show. The plan will go before a bankruptcy judge for final approval Friday. Raleigh, N.C.-based Baxano, which designed minimally invasive surgical products used in the treatment of degenerative spine conditions, filed for chapter 11 protection last November. (tom.corrigan@wsj.com)
(END) Dow Jones Newswires
07-21-151817ET
Copyright (c) 2015 Dow Jones & Company, Inc.
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