Dense-Pac Microsystems Inc, making memory subsystems for military and industrial applications, and trading under Chapter XI bankruptcy protection since February, has received court approval to put an amended reorganisation plan to shareholders: Electronic Memories & Magnetics NV of Belgium will make loans to Dense-Pac convertible into about 29% of the expanded equity, taking its holding […]
Dense-Pac Microsystems Inc, making memory subsystems for military and industrial applications, and trading under Chapter XI bankruptcy protection since February, has received court approval to put an amended reorganisation plan to shareholders: Electronic Memories & Magnetics NV of Belgium will make loans to Dense-Pac convertible into about 29% of the expanded equity, taking its holding to 49%, the cash to enable Dense-Pac to pay unsecured creditors in full with interest.
