From the bankruptcy proceedings:
Leonard M. Shulman of Shulman Hodges & Bastian LLP, CTC's bankruptcy counsel, stated: "We are very pleased that CTC will have an opportunity to pursue its plan of reorganization. CTC will continue working with creditors, shareholders and all interested parties throughout this process. CTC proposes a plan that addresses its litigation claims and provides for payment in full (100%) to its creditors. This process continues to move very quickly and thanks in large part to my partner Mark Bradshaw, CTC is in a position to emerge from Chapter 11 in record time." CTC's Chairman and CEO Benton Wilcoxon added: "We are extremely satisfied with our results thus far. CTC is on track to emerge from bankruptcy to aggressively continue with its business of developing, producing and marketing innovative and cost effective composite core electrical conductors for the utility industry."
