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Arbios Systems, Inc.
Arbios Announces It Has Voluntarily Filed for Chapter 11 Bankruptcy Protection
January 31st, 2009
Arbios Systems, Inc. (OTC: ABOS) announced that it has filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. A Chapter 11 filing enables the Company to continue to seek bids for the sale of the Company and/or its assets while working with its creditors. Arbios previously announced in August 2008 that it had suspended operations except for its efforts to raise capital to support the development of its SEPET™ technology or enter into a strategic transaction. The Company’s Board of Directors has now determined that, in light of the Company’s limited cash position and current economic...
Source: Law & Health Weekly (2009-01-31)
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