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Intermet Corporation
Intermet Corporation Files for Chapter 11 Reorganization to Restructure Debt & Operations
August 31st, 2008
Intermet Corporation announced that it and its domestic subsidiaries have filed for Chapter 11 protection with the U. S. Bankruptcy Court for the District of Delaware. It is intended that the filing will allow the company to continue normal operations while it reorganizes its financial and operating structure. The company also named Bob Tamburrino, president and CEO. He replaces Jeff Mihalic, who has resigned but remains in a consulting role. Intermet has applied to the Bankruptcy Court for, among other things, authority to use its cash collateral to finance its operations and to pay its employees' wages, salaries and current benefits of its hourly and salaried...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-31)
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