Cdex, Inc. (fka CDEX)

[PUFFII]

Sandollar

Saw this in the morning "stuff" and thought it might fit in.

ANNOUNCES APPROVAL: Inyx, Inc. (IYXI) announced that its Chairman & CEO, Jack Kachkar,
M.D., has been approved as the debtor-in-possession lender for Inyx USA, Ltd. and Exaeris,
Inc., its two wholly-owned North American operating subsidiaries, by the U.S. Bankruptcy Court
in the District of Delaware, over the objections of Westernbank Puerto Rico, a wholly owned
subsidiary of W Holding Company, Inc. (WHI). In addition to the Chapter 11 protection, Inyx,
Inc. and Inyx USA, together with Dr. Kachkar and his wife, filed suit against Westernbank in
New York State Supreme Court, asserting various causes of action seeking no less that $500
million in compensatory damages as well as punitive damages. The complaint charges, among
other things, that Westernbank acted in bad faith and in a commercially unreasonable manner
by blocking the flow of funds from Inyx’s customers to the company, and preventing the Inyx
companies from paying their debts.