Financing
Inyx Ceo Approved As D-i-p Lender for Inyx Subsidiaries By Delaware Court
Published in Medicine and Law Weekly, August 3rd, 2007
Inyx, Inc. (OTC: IYXI), reported that the company's Chairman & CEO, Jack Kachkar, M.D., yesterday was approved as the debtor-in-possession lender for Inyx USA, Ltd. and Exaeris, Inc., its two wholly-owned North American operating subsidiaries, by the U.S. Bankruptcy Court in the District of Delaware, over the objections of Westernbank Puerto Rico, a wholly owned subsidiary of W Holding Company, Inc. (NYSE: WHI).
On July 2, 2007, as a measure to protect Inyx against further potential damaging actions by Westernbank, the company placed its two U.S. operating subsidiaries in Chapter 11 protection.
As a result of yesterday's court approval of Dr....
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