Update: Allen Systems Group, Inc. Exits Bankruptcy

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We posted previously about the prepack filed by Allen Systems Group and various afffiliates.  After spending less than 80  days in bankruptcy, their chapter 11 plan has gone effective.  According to a press release on businesswire.com, during the chapter 11 process, ASG honored all commitments to its customers, clients and employees while managing the day to day operations of the company, and has emerged as “a stronger company, well positioned to deliver exceptional value to its customers.”

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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