View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
February 2, 1987

VECTOR GRAPHIC – A LONG TIME A’DYING

By CBR Staff Writer

Like the Stuart monarch who had the grace to apologise for it, Vector Graphic Inc is taking an unconscionable time a’dying: it was about a year ago that the Westlake Village, California company announced that it intended to liquidate, and everyone assumed that no more would be heard of the micro pioneer – but yesterday the firm piped up from its deathbed to say that it would be unable to reorganise and will take all steps necessary to convert its Chapter XI protection proceeding into a Chapter VII liquidation; the company’s secured creditors have informed Vector of their intention to take possession of all of its assets and to form a liquidating trust to administer such assets and distribute any proceeds arising therefrom; so far, the company has distributed about $770,000 in cash to the secured creditors, and estimates that the value of all remaining assets does not exceed $275,000, leaving an unpaid deficiency of about $1.5m owed to secured creditors; there will be nothing for unsecured creditors or holders.

Topics in this article :
Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU