Microtec files its plan

Brief
SSN Staff  - 
Wednesday, June 1, 2005

ST. AUGUSTIN, Quebec--In late April, Microtec Enterprises, a full service security company based here, filed its plan of restructuring in respect to the Companies' Creditors Arrangement Act--the Canadian version of an U.S. Chapter 11 filing that the company has been operating under since the fall of 2004.
A creditors meeting was scheduled in May, after Security Systems News' press deadline, to allow the plan to be voted on by the company's creditors. If approved, Microtec will request approval from the Superior Court and the judgement will allow the company to begin the final steps of its recapitalization plan.