THE FREE AND CLEAR PRESS

[thepennyking]

Form 8-K for STORAGE ENGINE INC


--------------------------------------------------------------------------------

18-Mar-2004

Bankruptcy or Receivership


ITEM 3. BANKRUPTCY OR RECEIVERSHIP.
-

On March 1, 2004 (the "Petition Date"), Storage Engine, Inc. commenced a bankruptcy case by filing a voluntary Chapter 11 petition under the United States Bankruptcy Code (the "Code"), 11 U.S.C.ss.101, et seq. in the United States Bankruptcy Court for the District of New Jersey. The Case Number of the Chapter 11 proceeding is 04-16727-RTL.

Chapter 11 of the Code allows the Debtor, and under some circumstances, creditors and other parties in interest, to propose a plan of reorganization ("Plan"). The Plan may provide for the Debtor to reorganize by continuing to operate, to liquidate by selling assets of the estate, or a combination of both. Storage Engine, Inc. intends to file a plan of reorganization and will endeavor to remain in business. Storage Engine, Inc. is operating its business as a debtor-in-possession, meaning that its pre-bankruptcy management continues in place and that no trustee or receiver has been appointed by the Bankruptcy Court.

http://biz.yahoo.com/e/040318/seng.ob8-k.html