Hemosol has Filed a Notice of Intention to Make a Proposal to its Creditors

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Hemosol has Filed a Notice of Intention to Make a Proposal to its Creditors

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12-14-2005, 06:11 AM

Jan B. Wade Jan B. Wade is offline

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Hemosol has Filed a Notice of Intention to Make a Proposal to its Creditors

http://www.hemosol.com/presspop.cfm?newsID=4614

25 Nov, 2005

Hemosol has Filed a Notice of Intention to Make a Proposal to its Creditors

TORONTO, Ontario (November 24, 2005) â€“ Hemosol Corp. (NASDAQ: HMSL, TSX: HML) today announced that it is insolvent. Hemosol Corp. and Hemosol LP have filed Notices of Intention to Make a Proposal to their creditors under the Bankruptcy and Insolvency Act (Canada), and have appointed PricewaterhouseCoopers Inc., a licensed trustee, to act as trustee under the proposals. Hemosol continues discussions with its secured creditors with respect to its current financial position.

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