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Birch Mountain Resources Ltd.
Birch Mountain announces appointment of Receiver
November 23rd, 2008
Birch Mountain Resources Ltd. ("Birch Mountain" or the "Corporation") (BMD: TSX) announces that pursuant to the Bankruptcy and Insolvency Act (Canada) (the "BIA"), PricewaterhouseCoopers Inc. is hereby appointed interim Receiver and Receiver and Manager (the "Receiver"), of all of the Corporation's current and future assets, undertakings and properties of every nature and kind (the "Property"). Birch Mountain announced on November 3, 2008, that it had received a demand for repayment of its loans from its principal secured creditor, Tricap Partners Ltd. ("Tricap"), together with a notice of intention to enforce security pursuant to the BIA. Birch Mountain is unable to repay its indebtedness...
Source: Pharma Investments, Ventures & Law Weekly (2008-11-23)
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