San Antonio, Texas-based Intelogic Trace Inc, once part of equally unhappy Datapoint Corp (see front) says its proposed plan of reorganisation has been confirmed by the US Bankruptcy Court: on the effective date of the plan, expected to be December 6, a four-for-one reverse split of common stock would be carried out and holders of unsecured claims will be issued with a new series of preferred stock; administrative and tax claims will be paid in full; existing shareholders will retain about 25% of the equity; Fidelity Capital & Income Fund, a principal holder of the debentures, will provide $6m in exit financing.
