Court Approves L-Soft's Reorganization Plan
June 2, 2009
L-Soft international has emerged from Chapter 11 protection. The U.S. Bankruptcy Court for the District of Maryland has ordered the case closed (Case 07-12173). Effective April 27, 2010, this final decree in the case confirms that the reorganization plan approved by the court last year is fully administered, concluding the software firm's Chapter 11 proceedings.
L-Soft international has continued normal business operations since its petition, filed three years ago to help resolve protracted litigation. L-Soft international's parent and sister companies in Sweden, Germany and the UK were dismissed from the litigation and had not been subject to any bankruptcy proceedings. The reorganization plan included a final settlement of the litigation.
In the United States
Susan Brown Faghani
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