INFINIUM LABS (fka IFLB)

[Arthur]

Bankruptcy judge orders liquidation for Savtira

U.S. Bankruptcy Judge Catherine McEwen converted Savtira’s Chapter 11 filing, a voluntary effort to reorganize its finances, to a Chapter 7 case, or an involuntary liquidation.

http://www.bizjournals.com/tampabay/news/2012/07/26/bankruptcy-judge-orders-liquidation.html

Steen also showed McEwen two “letters of intent” for alternative funding. McEwen reviewed both, before pronouncing them “smoke and mirrors.” She also said the company lacked a game plan and had an “unsophisticated” approach.
“Businesspeople should be smarter than this,” she said. “You’ve run out of time.”