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Arbios Systems, Inc.
Arbios Announces Intent to File a Reorganization Plan
April 4th, 2009
Arbios Systems, Inc. (OTC: ABOSQ) announced that it has signed a term sheet containing preliminary terms for a recapitalization of the Company through a $1,000,000 stock subscription by Arbios Acquisition Partners, LLC (“AAP”). Since January 9, 2009, the Company has been proceeding under Chapter 11 of the United States Bankruptcy Code under the jurisdiction of the Bankruptcy Court in the District of Delaware. The Company and AAP intend to file a reorganization plan reflecting the terms of this proposed transaction, which, if approved by the Bankruptcy Court and all of the Company’s relevant classes, could lead to the Company’s emergence from Chapter 11. AAP is a limited...
Source: Law & Health Weekly (2009-04-04)
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