Veritec Files for Protections Under Chapter 11 of the United States Bankruptcy Act

"GOLDEN VALLEY, Minn., March 1 /PRNewswire-FirstCall/ -- Veritec, Inc.
(OTC Bulletin Board: VRTC), a pioneer in two-dimensional bar code technology, filed for protection under Chapter 11 of the United States Bankruptcy Act today."
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"The filing was in response to a ruling issued on February 16, 2005, by an arbitration panel sitting in Los Angeles, California, which awarded Mitsubishi Corporation ownership of a portion of Veritec's two-dimensional code software and damages of over $8.1 million."
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Beaver County Times Allegheny Times - News - 03/01/2005 - Aliquippa Community Hospital poised to leave Chapter 11 bankruptcy today

Beaver County Times Allegheny Times - News - 03/01/2005 - Aliquippa Community Hospital poised to leave Chapter 11 bankruptcy today: "Aliquippa Community Hospital poised to leave Chapter 11 bankruptcy today
Stephanie Waite, Times Business Editor
03/01/2005

ALIQUIPPA - With $2 million in loan proceeds in the bank, Aliquippa Community Hospital could officially exit Chapter 11 bankruptcy by today."
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"The hospital has also begun paying unsecured creditors the 13 cents on a dollar they are owed."
Actually, they are lucky to get $.13 on the dollar (two and a half years after it was due).

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Training Available to Help Eastern U.S. Firms Increase Foreign Sales and U.S. Jobs, Lenders Expand Trade Finance Business

"Press ReleaseSource: Export-Import Bank of the United States

Training Available to Help Eastern U.S. Firms Increase Foreign Sales and U.S. Jobs, Lenders Expand Trade Finance Business
Tuesday March 1, 5:32 pm ET
WASHINGTON, March 1 /PRNewswire/ -- Companies in the eastern United States can learn how to increase export sales and jobs and minimize risk, and banks can learn how to work with the Export-Import Bank of the U.S. (Ex-Im Bank) in financing those exports, at an Exporter/Lender Seminar March 7-8, 2005 at Ex- Im Bank headquarters in Washington, D.C. Following this event, a half-day training seminar will be held March 9, 2005 at Ex-Im Bank headquarters for commercial lenders wanting to become Delegated Authority Lenders under Ex-Im Bank's Working Capital Guarantee Program. "
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You can also learn how to use export credit insurance to expand sales and improve cash flow from Glen Scheer at
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Jacksonville exporter named to Ex-Im Bank committee - 2005-03-01 - The Business Journal of Jacksonville

Jacksonville exporter named to Ex-Im Bank committee - 2005-03-01 - The Business Journal of Jacksonville: "LATEST NEWS
10:37 AM EST Tuesday
Jacksonville exporter named to Ex-Im Bank committee
Tony Quesada

Nationwide Equipment Co. President and CEO Ed Kostenski has been named to a national committee that advises the Export-Import Bank of the United States.

Ex-Im Bank is the United States' official export credit agency, helping finance U.S. exports by providing loan guarantees, export credit insurance and direct loans. The bank assisted in financing $17.8 billion of U.S. exports in fiscal 2004, which ended Sept. 30."
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Stained glass company still plans move despite Chapter 11

"Stained glass company still plans move despite Chapter 11
Wednesday, March 02, 2005
HANOVER TWP. -- Warner-Crivellaro Stained Glass Supplies Inc., which plans to relocate next year, has been under reorganizational bankruptcy since December, its owner confirmed Tuesday. "
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"Warner blamed the filing on 'non-financial reasons,' with one being a discrimination lawsuit filed by an ex-employee."

Even an otherwise financially strong company can use Chapter 11 to avoid liabilities. Don't be surprised by one of your largest customers filing Chapter 11.

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Veritec files for Chapter 11

Veritec files for Chapter 11: "Last update: March 1, 2005 at 10:27 PM
Veritec files for Chapter 11
March 2, 2005 VERITEC0302

Van Thuy Tran, the Vietnamese refugee who has started numerous businesses in the past 30 years to fund a variety of charities, has collided with a sizable roadblock with her latest venture."
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"Veritec has assets of $1.66 million and debt of $10.23 million, according to the filing."

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