Software Provider Ciprico Files For Ch. 11

Law360, New York (July 29, 2008, 12:00 AM EDT) -- Ciprico Inc., a 30-year veteran of the storage software industry, filed a voluntary petition for Chapter 11 bankruptcy protection Monday, citing approximately $7.8 million in debts.

Ciprico filed the petition in the U.S. Bankruptcy Court for the District of Minnesota, and reported that it would continue to operate its business and manage its properties while it seeks to maximize the value of its assets for creditors and shareholders.

Ciprico has been trying to find a buyer for all or part of the company and its assets,...
To view the full article, register now.