Verus International Inc (VRUS)

[ApollyonZ]

Vrus! Chapter 11 bankruptcy is designed to allow struggling businesses to restructure their finances and maximize the return to their creditors and owners.

..There is no absolute limit on the duration of a Chapter 11 case.
..Once the “exclusivity period” expires, the creditors’ committee or other parties can propose competing reorganization plans.
..Chapter 11 plan is, in effect, a contract between the debtor and its creditors as to how it will operate and pay its obligations in the future. Most plans provide for at least some downsizing of the debtor’s operations to reduce expenses and free up assets. In some cases, “liquidating plans” are proposed to provide for a total shutdown of the debtor’s operations and the orderly sale of its remaining property.

https://www.nolo.com/legal-encyclopedia/chapter-11-bankruptcy-overview.html

CEO tried Hamiltonian-crooked offshore business and failed, now promises Dubai monies.

I could post screen shots of Ceo promising 2016 first year positive returns but we agree a struggling business often leads IMO to catastrophic losses for all parties.

All the best