Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11

Cereplast Chapter 11 Petition Filed

Cereplast filed for Chapter 11 protection with the U.S. Bankruptcy Court in the Southern District of Indiana, case number 14-90200. The Company, which develops and commercializes bio-based resins, is represented by Tamara M. Leetham of Austin Law Group. On January 20, 2014, the Company notified Ironridge Technology that Ironridge was in material breach of the stock purchase agreement (entered into on August 24, 2012) and, therefore, effectively immediately, Cereplast terminated the stock purchase agreement. As of January 20, 2014, Ironridge had purchased only $2,970,000 of the Series A Preferred Stock. At the time of that announcement, Cereplast stated that it was "exploring additional financing options as a replacement."

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