Electronic Cigarettes International Group Ltd fka ECIGQ

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http://ih.advfn.com/p.php?pid=nmona&article=74116285

Item 1.03. Bankruptcy or Receivership.



After considering all strategic alternatives, Electronic Cigarettes International Group, Ltd. (the “Company”) filed a voluntary petition for relief under the provisions of Chapter 7 of Title 11 of the United States Code, 11 U.S.C. §§ 101 et seq. (the “Code”) in the United States Bankruptcy Court for the District of Nevada (the “Bankruptcy Court”) on March 16, 2017. As a result of this filing, a Chapter 7 trustee will be appointed by the Bankruptcy Court (the “Chapter 7 Trustee”) and will assume control of the Company. The assets of the Company will be liquidated and claims paid in accordance with the Code.


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers.

In connection with the bankruptcy filing, the Chapter 7 Trustee will assume control over the assets and liabilities of the Company. Accordingly, on March 16, 2017, Daniel J. O’Neill, James P. Geiskopf, Craig Colmar, and David Karp resigned from their positions as directors of the Company.