A U.S. Bankruptcy Court judge has approved a liquidation plan for Thinkstream, under which a limited amount of money will be doled out to creditorsbut not to more than 500 shareholders of the company due to the extensive about of debt owedsays court appointed trustee David Rubin.
This substantially concludes the Thinkstream case, Rubin says in a prepared statement, adding the case will officially be closed in the next few months. Although the result is disappointing for shareholders, the plan avoids a liquidation of the company and provides some small recovery for creditors. Rubin notes that shareholders throughout Louisiana and other states had invested capital of about $35 million.
The Baton Rouge-based tech firm, which provides s…
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