Verso Bankruptcy
Verso Files Voluntary Petition for Chapter 11 Bankruptcy Protection
ATLANTA, April 28, 2008 (PRIME NEWSWIRE)
Verso Technologies, Inc. (NasdaqCM:VRSO – News), a global provider of next generation network solutions, announced today that, on April 25, 2008, the Company and several of its subsidiaries filed a voluntary petition under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court, Northern District of Georgia. The Company anticipates that it will be a debtor-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. The Company also anticipates that it will file with the Bankruptcy Court, and will seek its confirmation of, a plan of liquidation with respect to the assets of the Company and its subsidiaries.