Thursday, January 13, 2011

Constar emerges from bankruptcy - Triangle Business Journal:

http://www.credit-fix-secrets.com/the-complete-credit-repair-book-page45.html
The Philadelphia company said it believe d it is now in a stronger financiapl condition and position for the As part ofits reorganization, Constar has converted its debtor-in-possessiojn financing into a facility that will provide the company with ongoing funds. It also canceled its old common stock, which most recently traded under thesymboll CNSTQ. Holders of the old common stock will not received a distribution of any kind and no further transfers will be recorded onthe company'd books.
In addition, holders of $175 millionb of Constar’s subordinated notes prior to the compang filing for bankruptcy protection will converf 100 percent of theier face amount into new common stockm of thereorganized company. The commoj stock is initially expected to trade overthe counter.

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