Thanks for the time invested in your post(s) here.
Shame on those leaders of Xechem who did not follow through on their publicly stated intent!
Xechem International, Inc. announced that the Company and one of its subsidiaries, Xechem, Inc., filed voluntary petitions for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Northern District of Illinois (the Bankruptcy Court) to suspend all litigation and to restructure its debt.
The Company intends to work with all of its constituencies to reach mutually acceptable resolutions and to exit bankruptcy as expeditiously as possible. The Company's operations are expected to continue as normal throughout the bankruptcy process, while the Company executes on its reorganization plans. The Company's other subsidiaries are not part of this Chapter 11 filing. The Company's Nigerian subsidiary, Xechem Pharmaceuticals Nigeria Limited, will continue its normal operations of the manufacturing and sale of NICOSAN, a drug approved for marketing in Nigeria for the management of Sickle Cell Disease.
