Bankruptcy Newsletter News

Regulus and Pachamama Announce Signing of Arrangement Agreement

by on February 23, 2012

Marketwatch…

WATERDOWN, ONTARIO–(Marketwire – Feb. 23, 2012) – Regulus Resources Inc. (“Regulus”) (TSX VENTURE:REG) and Pachamama Resources Ltd. (“Pachamama”, PMA TSX.V) are pleased to announce, further to the press release dated February 8, 2012, the signing of an arrangement agreement dated February 22, 2012 (the ” Arrangement Agreement “) that provides for a merger of the two companies (the ” Merger “). Regulus and Pachamama each own a 50% interest in the Rio Grande copper-gold porphyry project in Salta Province, Argentina.

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Regulus and Pachamama Announce Signing of Arrangement Agreement

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DISH Network Statement on Bankruptcy Court Approval of TerreStar’s Reorganization

by on February 15, 2012

Marketwatch…

ENGLEWOOD, CO–(Marketwire – Feb 15, 2012) – DISH Network Corporation ( NASDAQ : DISH ) issued the following statement today regarding final bankruptcy court approval of TerreStar Networks’ reorganization plan:

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DISH Network Statement on Bankruptcy Court Approval of TerreStar’s Reorganization

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CDEX Inc. Commences Debt Restructuring to Strengthen Company’s Future Competitiveness

February 11, 2012

Will Continue to Operate Without Interruption

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Cougar Oil and Gas Canada Enters Into Creditor Protection Following Failure of Purchaser to Complete an Asset Acquisition

February 3, 2012

The Energy Resources and Conservation Board Shutting in Production for the Resulting Insufficient LMR Deposit Requirements

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Timminco Announces Extension of CCAA Stay Period

January 30, 2012

TORONTO, ONTARIO–(Marketwire – Jan. 30, 2012) – Timminco Limited (TSX:TIM) and its wholly-owned subsidiary Bécancour Silicon Inc. (collectively, the “Company”) announced that, at a motion heard on January 27, 2012, in connection with proceedings commenced by the Company under the Companies’ Creditors Arrangement Act (the “CCAA Proceeding”), the Ontario Superior Court of Justice (Commercial Division) (the “Court”) has granted an order extending the CCAA stay of proceedings to April 30, 2012. The extension provides additional time for the Company to conduct a thorough marketing process for the sale of the business and assets of the Company, or for the sponsorship of a plan of arrangement in respect of the Company, subject to Court approval of such process.

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Process Capital News

November 23, 2011

TORONTO, ONTARIO–(Marketwire – Nov. 23, 2011) –

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Court Enters Order Restricting Trading in Stock or Options of Syms Corp

November 23, 2011

SECAUCUS, NJ–(Marketwire – Nov 23, 2011) – The United States Bankruptcy Court for the District of Delaware has entered an Order that imposes substantial restrictions on trading in equity interests (and the holding, creation or issuance of options in respect of equity interests) in Syms Corp. A copy of the Order may be found at the following internet address: http://kccllc.net/filenes ; questions regarding the Order may be directed to representatives of the debtors at the following telephone number: (877) 606-7510.

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Sterling Shoes Announces Extension of CCAA Order

November 18, 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 18, 2011) – Sterling Shoes Inc. (TSX:SSI) announces that today it and Sterling Shoes GP Inc. (general partner of Sterling Shoes Limited Partnership) (collectively, the “Company”) obtained an order (the “Order”) from the Supreme Court of British Columbia under the Companies’ Creditors Arrangement Act (Canada) (the “CCAA”) extending the stay of proceedings granted pursuant to the previously announced Initial Order obtained by the Company on October 21, 2011.

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Deans Knight Income Corporation Announces Normal Course Issuer Bid for Common Voting Shares

November 15, 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Nov. 15, 2011) – Deans Knight Income Corporation (the “Company”) (TSX:DNC) is pleased to announce that the Toronto Stock Exchange (“TSX”) has accepted the Company’s Notice of Intention to make a normal course issuer bid (the “NCIB”). Management of the Company believes that, from time to time, the market price of the common voting shares of the Company (“Common Shares”) may not fully reflect the underlying value of the Common Shares and that at such times the purchase of Common Shares would be in the best interests of the Company. Such purchases will increase the proportionate interest of, and may be advantageous to, all remaining shareholders.

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Desmarais Files a Notice of Intention Under the Bankruptcy and Insolvency Act

September 27, 2011

CALGARY, ALBERTA–(Marketwire – Sept. 26, 2011) – Desmarais Energy Corporation (TSX VENTURE:DES) (the ” Corporation ” or ” Desmarais “) announces that today it has filed with the Office of the Superintendent of Bankruptcy a Notice of Intention to File a Proposal under the Bankruptcy and Insolvency Act (Canada) (” BIA “). As a consequence of such filing, any and all recourses of the Corporation’s creditors are stayed for an initial period of thirty (30) days. Desmarais has taken this action in light of recent enforcement actions taken by its largest unsecured creditor, whereby that creditor has seized Desmarais’ cash balances, leaving Desmarais unable to meet its day to day obligations as they come due. Although this enforcement action and the underlying claim of the unsecured creditor is disputed by Desmarais, the Corporation has taken this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors and allowing it to carry on its operations. Desmarais expects to file a formal proposal under the BIA, setting forth a comprehensive plan for payment to Desmarais’ creditors in due course. This filing has been taken by Desmarais with the full support of its secured creditor. The trustee named in the notice of intention is Hardie & Kelly Inc., of Calgary, Alberta.

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Fortress Energy Inc. Announces CCAA Protection Extension and Continues to Dispute Its CRA Claim

May 30, 2011

CALGARY, ALBERTA–(Marketwire – May 30, 2011) – Fortress Energy Inc. (” Fortress ” or the ” Company “) (TSX:FEI) announced that its application to the Court of Queen’s Bench of Alberta for an Order under the Companies’ Creditors Arrangement Ac t (Canada) (” CCAA “) to extend its CCAA protection has been granted, allowing the Company to continue to prepare a plan of arrangement for its creditors if necessary, and staying all claims and actions against the Company and its assets. The extension under the Order granted will be in effect until June 30, 2011, at which time the matter will be reviewed by the Court.

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La Fabrique d’Images ferme ses portes

April 26, 2011

MONTRÉAL, QUÉBEC–(Marketwire – 26 avril 2011) – Après 39 ans d’existence, La Fabrique d’Images a été contrainte de mettre un terme à ses activités. Les quatre dernières années ont été particulièrement difficiles pour la production de commerciaux télévisés, notamment en raison de l’exode de la production vers Toronto, des ententes d’exclusivité de certaines agences publicitaires avec quelques maisons de production, et des réseaux de télévision qui produisent directement avec d’éminents annonceurs sans se soumettre aux normes de L’AQTIS (Alliance québécoise des techniciens de l’image et du son).

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Chantiers Davie conclut une entente d’exclusivité avec Fincantieri et DRS Technologies Canada

March 31, 2011

LÉVIS, QUÉBEC–(Marketwire – 31 mars 2011) – Chantiers Davie (« Davie » ou la «Société») a annoncé aujourd’hui qu’elle a conclu une entente d’exclusivité avec Fincantieri – Cantieri Navali Italiani (« Fincantieri ») et DRS Technologies Canada («DRS»), une entreprise de Finmeccanica, afin de négocier l’acquisition potentielle du chantier par le biais d’une entité détenue majoritairement par Fincantieri. Afin de poursuivre ce processus, Davie a obtenu une ordonnance de la Cour supérieure du Québec (la « Cour ») pour prolonger la période de suspension ordonnée par la Cour en vertu de la Loi sur les arrangements avec les créanciers du Canada (« LACC ») jusqu’au 19 mai 2011.

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Davie Yards Enters Into an Exclusivity Agreement With Fincantieri and DRS Technologies Canada

March 31, 2011

LÉVIS, QUÉBEC–(Marketwire – March 31, 2011) – Davie Yards (“Davie” or the “Corporation”) announced today that it has entered into an exclusivity agreement with Fincantieri – Cantieri Navali Italiani (“Fincantieri”) and DRS Technologies Canada (“DRS”), a Finmeccanica company, to negotiate the potential acquisition of the shipyard by an entity that will be majority-owned by Fincantieri. In order to continue this process, Davie has obtained an order from the Québec Superior Court (the “Court”) extending the stay of proceedings ordered by the Court to May 19, 2011, the whole pursuant to the Companies’ Creditors Arrangement Act (“CCAA”).

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AuRo Resources and White Gold Corporation to Enter Into Business Combination

March 9, 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire – March 9, 2011) – AuRo Resources Corp. (the “Company”) (TSX VENTURE:ARU) is pleased to announce that it has entered into a binding letter of intent to acquire all of the issued and outstanding securities (the “Target Shares”) of White Gold Corporation (“White Gold”), an arm’s length private Alberta corporation, engaged in gold exploration in Colombia, South America. The combined AuRo Resources and White Gold will possess a large and diverse strategic property portfolio of approximately 70,000 hectares within Colombia’s most prolific gold, silver and copper exploration and mining regions.

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ISE Assets Sold in Court-Approved Bankruptcy Sale

March 8, 2011

SAN DIEGO, CALIFORNIA–(Marketwire – March 8, 2011) – ISE Limited (TSX:ISE) announced today that substantially all of the assets of its principal operating subsidiary, ISE Corporation (a California corporation), were recently sold to a group of purchasers unaffiliated with and unrelated to ISE or any of its directors, officers or stockholders, following a public auction and competitive bidding process overseen by the bankruptcy court presiding over ISE Corporation’s previously-disclosed bankruptcy case. The aggregate gross proceeds received by ISE Corporation pursuant to the winning auction bid were US$3,721,000. The bankruptcy court has approved the sale. Proceeds of the sale will be distributed pursuant to the priority scheme of the bankruptcy laws, subject to any further orders of the bankruptcy court. Generally, proceeds are applied first against bankruptcy administrative and priority expenses and the

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Canadian Lender Appoints Receiver Pursuant to the Bankruptcy and Insolvency Act, R.S.C. (1985) ch. B-3

February 21, 2011

LAVAL, QUEBEC–(Marketwire – Feb. 21, 2011) – LAB Research Inc. (“LAB Research” or the “Company”) (TSX:LRI), a Canadian-based global non-clinical contract research organization, today announced that its main Canadian lender (the “Lender”) has obtained an Order from the Commercial Chamber of the Superior Court of Laval appointing Samson Belair Deloitte and Touche (“SBDT”) to act as Receiver pursuant to section 243 of the Bankruptcy and Insolvency Act , R.S.C. (1985) ch. B-3 (the “Receiver Order”). Further to the Receiver Order, the remaining directors of the Company resigned and SBDT took control of the operations of the Company. According to the motion filed by the Lender in support of the Receiver Order, the Receiver intends to solicitate/entertain offers on the assets of the Company with a view to complete a transaction with a potential acquirer/investor in the best delay, preferably on a going c

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High River Provides an Update on the Bankruptcy Procedures of Prognoz Silver LLC

February 18, 2011

TORONTO, ONTARIO–(Marketwire – Feb. 18, 2011) – High River Gold Mines Ltd. (” High River ” or the ” Company “) (TSX:HRG) was informed that Prognoz Silver LLC (” Prognoz Silver “) repaid part of an outstanding debt due under the contract for exploration work on the Prognoz silver project to OJSC Buryatzoloto (” Buryatzoloto “). High River holds a 50% indirect interest in Prognoz Silver, which operates the Prognoz silver project in the Republic of Sakha (Yakutia), Russia. The repaid amount was approximately US$18 million. Prognoz Silver’s debt originated from the inability of its shareholders, other than High River, to finance their share of expenditures at the Prognoz silver project.

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Odyssey Petroleum Corp.: Corporate Update

February 10, 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 10, 2011) – Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) has made a final application to the TSX Venture Exchange and is waiting for its acceptance for reinstatement to trading. Upon confirmation from the Exchange that ODE may resume trading, as announced in ODE’s Press Release dated January 21, 2011 the Company intends to continue preparation of required documentation to consolidate its share capital on a 20:1 basis, and to change its name to Petrichor Energy Inc., subject to receipt of regulatory acceptance. A further News Release will be disseminated once regulatory approval has been received and an Effective Date has been set.

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Odyssey Petroleum Corp.: Corporate Update

February 10, 2011

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Feb. 10, 2011) – Odyssey Petroleum Corp. (TSX VENTURE:ODE)(FRANKFURT:YQN) has made a final application to the TSX Venture Exchange and is waiting for its acceptance for reinstatement to trading. Upon confirmation from the Exchange that ODE may resume trading, as announced in ODE’s Press Release dated January 21, 2011 the Company intends to continue preparation of required documentation to consolidate its share capital on a 20:1 basis, and to change its name to Petrichor Energy Inc., subject to receipt of regulatory acceptance. A further News Release will be disseminated once regulatory approval has been received and an Effective Date has been set.

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Sitebrand Inc. Announces Bankruptcy of Its Subsidiary

February 7, 2011

GATINEAU, QUEBEC–(Marketwire – Feb. 7, 2011) – Sitebrand Inc. (TSX VENTURE:SIB), a player in online marketing solutions today announces that its wholly owned subsidiary, Sitebrand.com Inc., has made an assignment in bankruptcy under the provisions of the Bankruptcy and Insolvency Act. 

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Molecular Insight Receives Court Approval of Assumption of Investment Agreement and Solicitation of Alternative Transactions

January 26, 2011

CAMBRIDGE, MA–(Marketwire – January 26, 2011) –   Molecular Insight Pharmaceuticals, Inc. ( OTCQB : MIPIQ ) ( PINKSHEETS : MIPIQ ), today announced that it has received approval from the U.S. Bankruptcy Court for the District of Massachusetts of its motion to assume the previously announced Investment Agreement entered into with Savitr Capital LLC. The motion was submitted in connection with the Company’s Chapter 11 reorganization case that was commenced on December 9, 2010 under the U.S. Bankruptcy Code.

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Black Diamond Awarded Oil Sands Contract

January 19, 2011

CALGARY, ALBERTA–(Marketwire – Jan. 18, 2011) – Black Diamond Group Limited (“Black Diamond” or “the Company”) (TSX:BDI), a leading provider of modular accommodation and energy services in North America, is pleased to announce BOXX Modular, the Company’s modular workspace division, has secured a contract to supply and install 101 modular units at a major Canadian oil sands site. BOXX Modular will be supplying and installing lunchroom complexes, locker rooms, self-contained lavatories, security units and other workspaces for the remote site. The new units are currently being manufactured with installation expected to commence in late spring, 2011. The total project value exceeds $8.5 million and the contract is BOXX Modular’s largest single award to date.

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Shane Co. Announces Successful Emergence From Chapter 11 Reorganization

December 22, 2010

CENTENNIAL, CO–(Marketwire – December 21, 2010) – Shane Co ., the largest privately-held jeweler in the United States, today announced that the company has successfully completed its financial restructuring and has emerged from Chapter 11 reorganization.

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AireSurf Networks Holdings Inc.: Court Approves Bankruptcy Proposal

November 19, 2010

TORONTO, ONTARIO– (Marketwire – Nov. 19, 2010) – AireSurf Networks Holdings Inc. (CSNX:ANH) (the ” Company “) announces that further to its press releases of September 22, 2010, and October 8, 2010, the Superior Court of Justice for Ontario in Bankruptcy and Insolvency has approved the Company’s bankruptcy proposal. Pursuant to the proposal creditors who have filed a proof of claim with the trustee will receive one common share of the Company for every $0.05 of indebtedness. Risman & Zysman Inc., the trustee, will be forwarding notice of the court approval in due course. Creditors have thirty days to file a proof of claim, otherwise they will be ineligible to take advantage of the proposal.

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ISE Limited Follows ISE Corporation in Filing for Chapter 11 Bankruptcy Protection

November 16, 2010

SAN DIEGO, CALIFORNIA–(Marketwire – Nov. 16, 2010) – ISE Limited (TSX:ISE) announced today that it has filed a voluntary petition to reorganize its business under Chapter 11 of the United States Bankruptcy Code. As previously announced on August 10, 2010, ISE Limited’s principal operating subsidiary, ISE Corporation (“ISE”) (a California corporation), filed for Chapter 11 bankruptcy protection approximately three months ago. Both bankruptcy filings were made in the United States Bankruptcy Court for the Southern District of California.

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AireSurf: Creditors Approve Bankruptcy Proposal

October 8, 2010

TORONTO, ONTARIO–(Marketwire – Oct. 8, 2010) – AireSurf Networks Holdings Inc. (CSNX:ANH) (the ” Company “) announces that further to its press release of September 22, 2010, secured and unsecured creditors unanimously approved the Company’s bankruptcy proposal at the meeting of creditors held today. The Company will seek court approval of the proposal at the first available court date.

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Simba Analyst Investigates Thompson Publishing’s Chapter 11 Filing

October 5, 2010

STAMFORD, CT–(Marketwire – October 5, 2010) –  Thompson Publishing Group (Washington), whose publications focus on regulatory compliance advice for professionals, this month filed for Chapter 11 bankruptcy protection as a result of the poor economy and having to compete against more free content available online, reports Simba.

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Sleep Holdings, Inc. Announces an Adverse Material Event

September 22, 2010

DALLAS, TX–(Marketwire – September 22, 2010) –  Sleep Holdings, Inc. ( PINKSHEETS : SLHJ ), a Nevada Corporation, announces an event that has a material adverse effect on the company. Sleep Centers of America (“SCOA”) has filed for Chapter 7 BANKRUPTCY in the Western District of Oklahoma. Sleep Holdings, Inc. sold its operating assets to SCOA in August 2008 in exchange for certain SCOA promises of future payments of which most remain unpaid. The company plans to seek advice from attorneys and consultants to determine the company’s alternatives, but it is not likely that these SCOA obligations to Sleep Holdings, Inc. will be paid in the Chapter 7 Bankruptcy liquidation.

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AireSurf Files Bankruptcy Proposal

September 22, 2010

TORONTO, ONTARIO– (Marketwire – Sept. 22, 2010) – AireSurf Networks Holdings Inc. (CSNX:ANH) (the ” Company “) announces that it has filed a proposal under Section 50 of the Bankruptcy and Insolvency Act (Canada) with the Ontario Superior Court of Justice in Bankruptcy. 

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Grupo Mexicana Suspends Flights Until Further Notice

August 27, 2010

MEXICO CITY–(Marketwire – August 27, 2010) -

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ISE Files for Chapter 11 Bankruptcy Protection

August 10, 2010

SAN DIEGO, CA–(Marketwire – August 10, 2010) –  ISE Limited ( TSX : ISE ) announced today that its principal operating subsidiary, ISE Corporation (a California corporation) has filed a voluntary petition to reorganize its business under Chapter 11 of the United States Bankruptcy Code. The filing was made in the United States Bankruptcy Court for the Southern District of California. 

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Sahara Energy Ltd. Announces Court Approval

August 4, 2010

CALGARY, ALBERTA–(Marketwire – Aug. 4, 2010) – Sahara Energy Ltd. (TSX VENTURE:SAH) (PINK SHEETS:SAHRF) (” Sahara ” or the ” Company “) is pleased to announce that, further to its news releases of June 8, 2010 and June 24, 2010, the Court of Queen’s Bench of Alberta has approved the proposal (the ” Proposal “) under the Bankruptcy and Insolvency Act (Canada). The Memorandum of Understanding dated June 4, 2010 between the Company and King World International Holdings Limited provided for the Proposal to be made and accepted, a 6 for 1 consolidation of the Company’s common shares (the ” Consolidation “) and an equity private placement of up to 58,000,000 common shares on a post-consolidation basis (the ” Private Placement “). The Proposal remains subject to regulatory and shareholder approval of the Consolidation

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Kolorfusion International, Inc. Files for Chapter 11 Reorganization

August 2, 2010

DENVER, CO–(Marketwire – August 2, 2010) –  On July 27, 2010, Kolorfusion International, Inc. ( PINKSHEETS : KOLR ) (“the Company”) filed for voluntary Chapter 11 bankruptcy reorganization in the District of Colorado. The Company intends to, with Court approval, continue to conduct its business as usual without interruption. The Company expects that it will continue to operate its business as a “debtor-in-possession” under the jurisdiction of the United States Bankruptcy Court for the District of Colorado and in accordance with the applicable provisions of the Bankruptcy Code. The Company’s bankruptcy attorney is Bonnie Bell Bond, Esquire, Law Office of Bonnie Bell Bond, LLC, Greenwood Village, Colorado.

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Tagish Lake Gold Corp. CCAA Proceedings Update

July 9, 2010

VANCOUVER, BRITISH COLUMBIA–(Marketwire – July 9, 2010) – As previously announced, on April 9, 2010, Tagish Lake Gold Corp. (TSX VENTURE:TLG) ( “Tagish Lake” or the “Company” ) commenced proceedings under the Companies’ Creditors Arrangement Act (Canada) (the “CCAA Proceeding” ) in the Supreme Court of British Columbia (the “Court” ) and obtained the Initial Order, providing protection from the Company’s creditors until May 7, 2010 and appointing Grant Thornton Limited as the Monitor for the Company. On May 7, 2010, the Court granted an Order (the “Confirmation Order” ) confirming and extending the creditor protection provided under the Initial Order to July 7, 2010. On that same date, the Court also granted an Order (the ” Claims Process Order “), approving the claims process (th

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Adanac Announces CCAA Protection Extension to October 29, 2010

June 30, 2010

VANCOUVER, BRITISH COLUMBIA–(Marketwire – June 30, 2010) – Adanac Molybdenum Corporation (“Adanac” or the “Company”) (TSX:AUA)(PINK SHEETS:AUAYF)(FRANKFURT:A9N) announced today that its application of June 30, 2010 to the Supreme Court of British Columbia (the “Court”) for an Order under the Companies’ Creditors Arrangement Act (“CCAA”) to extend its creditor protection has been successful, allowing the Company to continue to restructure and continue to stay all claims and actions against the Company and its assets. The June 30, 2010 Order extends the stay period under CCAA until October 29, 2010, at which time the matter will be reviewed by the Court. Further information can be found on the website of KPMG Inc., the court-appointed Monitor, at www.kpmg.ca/adanac . 

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Sahara Energy Ltd. Announces Approval of Creditors Proposal

June 24, 2010

CALGARY, ALBERTA–(Marketwire – June 24, 2010) – Sahara Energy Ltd. (” Sahara ” or the ” Company “) (TSX VENTURE:SAH) (PINK SHEETS:SAHRF) is pleased to announce that, further to its news release of June 8, 2010, the secured creditors and the unsecured creditors of Sahara voted in favor of Sahara’s proposal under the Bankruptcy and Insolvency Act at a meeting of the creditors held on June 22, 2010. The finalization of the proposal remains subject to court approval, which will be sought by Deloitte and Touché Inc. who is acting as trustee under Sahara’s proposal. The proposal is also subject to regulatory and shareholder approval.

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High River Gold Announces the Beginning of the Bankruptcy Procedures of Prognoz Silver LLC

June 8, 2010

TORONTO, ONTARIO–(Marketwire – June 8, 2010) – High River Gold Mines Ltd. (” High River ” or the ” Company “) (TSX:HRG) was informed yesterday that the Arbitration Court of the City of Moscow has approved the application of OJSC Buryatzoloto (” Buryatzoloto “) for official bankruptcy procedures for Prognoz Silver LLC, which operates the Prognoz silver project in the Republic of Sakha (Yakutia), Russia, which the Company has an interest in. The commencement of the procedures will result in the preservation of Prognoz Silver LLC’s assets, an analysis of its financial condition, the preparation of the list of creditors and the holding of the first creditors’ meeting. It is anticipated that the bankruptcy procedures may last at least seven months and may permit Buryatzoloto to collect or restructure the indebtedness of Prognoz.

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Drake Appoints Receiver

May 21, 2010

CALGARY, ALBERTA– (Marketwire – May 21, 2010) – Drake Energy Ltd. (TSX VENTURE:DPE) (“Drake”) announces that the Canadian Western Bank (the “Bank”) has served Drake with notice demanding payment of its outstanding indebtedness to the Bank in the amount of approximately $4,000,000 and of the Bank’s intention to enforce its security pursuant to the Bankruptcy and Insolvency Act .

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Genoil Inc.: Proposed Creditor Settlement

May 13, 2010

CALGARY, ALBERTA– (Marketwire – May 13, 2010) – Genoil Inc. (TSX VENTURE:GNO) (OTCBB:GNOLF) announces that it proposes to issue 810,279 common shares at a deemed price of $0.09 per share to conclude part of a previously announced definitive shares for debt settlement agreement with related parties for unpaid salaries. The total amount of indebtedness settled in this regard is $72,925.13. The shares issued in connection with the settlement of this debt are subject to a four month hold period from their date of issuance.

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Frontier Financial Corporation Stock to Be Delisted From Nasdaq

May 3, 2010

EVERETT, WA–(Marketwire – May 3, 2010) –  Frontier Financial Corporation ( NASDAQ : FTBK ) announced today that as a result of the recent, previously announced closure of the Company’s wholly-owned subsidiary and principal asset, Frontier Bank, and the expected dissolution or bankruptcy, and liquidation of the Company, trading in the Company’s common stock was halted by The Nasdaq Stock Market starting on Monday, May 3, 2010, and the Company was notified by Nasdaq on May 3, 2010, that the Company’s stock will be delisted from Nasdaq on May 12, 2010. This action is being taken by Nasdaq pursuant to its Listing Rules 5100 and 5110.

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Frontier Financial Corporation Announces FDIC Receivership of Its Bank Subsidiary, Frontier Bank

May 3, 2010

EVERETT, WA–(Marketwire – May 3, 2010) –  Frontier Financial Corporation ( NASDAQ : FTBK ), announced today that on Friday, April 30, 2010, Frontier Bank, the wholly-owned subsidiary of the Corporation, was closed by the State of Washington, Department of Financial Institutions, Division of Banks (the “DFI”) and the Federal Deposit Insurance Corporation (the “FDIC”) was appointed as receiver of the Bank.

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Planet Organic Files for Creditor Protection

April 30, 2010

EDMONTON, ALBERTA– (Marketwire – April 30, 2010) – Planet Organic Health Corp (TSX VENTURE:POH), Planet Organic Health Corp. (“POH”) today announces that after consideration of all viable alternatives, POH’s Board of Directors has determined that it is in the best interests of the Corporation for it and its wholly-owned subsidiary in Canada, Darwen Holdings Ltd. to seek court protection from creditors under the Companies’ Creditors Arrangement Act (Canada) (“CCAA”). On April 28, 2010, POH and its subsidiaries received demands for payment and Notices of Intention to Enforce Security on term loans and convertible notes held by the Company’s principal lender, Catalyst Capital Group Inc. on behalf of funds managed by it (“Catalyst”). At the time of demand, the total indebtedness owing to Catalyst was in excess of US$31.1 million.

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Ambrilia Biopharma dépose son rapport bi-hebdomadaire sur la situation

April 28, 2010

ATTENTION DIRECTEURS DES RUBRIQUES AFFAIRES/FINANCE/SANTE

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Ambrilia Biopharma Provides Bi-Weekly Update on its Status

April 28, 2010

ATTENTION BUSINESS/FINANCIAL/HEALTH EDITORS

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Firstgold Releases Control of All Assets to Secured Lenders

April 26, 2010

TORONTO–(Marketwire – April 26, 2010) –  Firstgold Corp. ( PINKSHEETS : FGOCQ ) on January 27, 2010 voluntarily filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. The filing was made in the United States Bankruptcy Court, District of Nevada (Case #10-50215). Since the date of that filing Firstgold’s current management continued to operate the Company as debtor-in-possession subject to the supervision and orders of the Bankruptcy Court.

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Radius Resources Corp.: Court Approval of BIA Proposal

April 16, 2010

CALGARY, ALBERTA –(Marketwire – April 16, 2010) -

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Point Blank Solutions Files Voluntary Petition for Chapter 11 Reorganization; Reaches Agreement to Obtain Debtor-in-Possession Financing for up to $20 Million

April 14, 2010

POMPANO BEACH, FL–(Marketwire – April 14, 2010) –  Point Blank Solutions, Inc. ( OTCBB : PBSO ), a leader in the field of protective body armor, today announced that the Company and its subsidiaries have filed a voluntary petition for Chapter 11 reorganization. The Company also announced that it has reached an agreement for up to $20 million of Debtor-in-Possession (“DIP”) financing, pending bankruptcy court approval. 

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Ambrilia Biopharma obtient une quatrième prolongation de la protection en vertu de la Loi sur les arrangements avec les créanciers des compagnies et dépose son rapport bi-hebdomadaire

April 14, 2010

MONTRÉAL, QUÉBEC–(Marketwire – 14 avril 2010) –

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Ambrilia Biopharma Obtains a Fourth Extension of CCAA Stay Order and Provides Bi-Weekly Update on Its Status

April 14, 2010

MONTREAL, QUEBEC–(Marketwire – April 14, 2010) –

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