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jotuk6771

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jotuk6771

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Tuesday, 04/28/2009 12:06:30 PM

Tuesday, April 28, 2009 12:06:30 PM

Post# of 177139
WARNING - SORC



LONDON (MarketWatcH)News
11:48am 04/28/2009

SORC 0.07, -0.09, -55.2%) said it's entering a lender-approved pre-packaged Chapter 11 bankruptcy, under which it hopes to re-emerge within 35 days. The company's lenders will cancel nearly $1 billion of the company's existing debt and provide approximately $100 million in additional liquidity. Source Interlink, in agreement with its lenders, will pay all of its vendors in full and on time if they agree to maintain current credit and payment terms.
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