August 20, 2014
The former CEO and controlling stakeholder of bankrupt card transaction processor Phoenix Payment Systems Inc. took issue late Tuesday with the debtor's $50 million stalking horse sale plan, arguing that it should instead consider proposals for a reorganization plan supported by an equity infusion.
August 05, 2014
A Delaware bankruptcy judge gave card transaction processor Phoenix Payment Systems Inc. the interim OK Tuesday for a $5 million debtor-in-possession loan from prepetition lender Bancorp Bank that will help finance operations as it prepares for a proposed $50 million stalking horse sale to North American Bancard LLC.