Business
TriStar Wellness Solutions® Files Voluntary Chapter 7 Petition
TriStar Wellness Solutions® Files Voluntary Chapter 7 Petition.
About this update from Tristar Wellness Solutions Inc.
[{"type":"text","content":"\n\n\n\nTriStar Wellness Solutions® Files Voluntary Chapter 7 Petition\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nTriStar Wellness Solutions® Files Voluntary Chapter 7 Petition\nPR Newswire\nPORTLAND, Ore., Jan. 15, 2016\n\n\n\nPORTLAND, Ore., Jan. 15, 2016 /PRNewswire/ -- TriStar Wellness Solutions®, Inc. (OTCQB: TWSI), a health and wellness company that targets opportunities in advanced wound care, announced today that it has filed a voluntary petition for relief under provisions of Chapter 7 of the United States Bankruptcy Code to initiate an orderly liquidation of the assets of the Company.\n\nLogo - http://photos.prnewswire.com/prnh/20160115/322798LOGO \n\nThe Chapter 7 case was filed in the United States Bankruptcy Court for the District of Oregon. As a result of the filing, a Chapter 7 trustee will be appointed in the Chapter 7 case and the assets of the Company will be liquidated in accordance with the Bankruptcy Code. Additional information on the process can be obtained through the Court.\n\nHemCon Medical Technologies, Inc. (www.hemcon.com), TWSI's primary asset, is transitioning to new ownership though a separate Court protected transaction. The HemCon business will continue normal operations, including the sale of its hemostatic, antibacterial medical devices, without disruption of service to its customers, while implementing an acquisition process leading to new ownership through a sale under Section 363 of Title 11 of the United States Code. \n\nAbout TriStar Wellness SolutionsTriStar Wellness Solutions®, Inc. (TWSI) is a health and wellness company that targets under-met opportunities in the OTC and professional advanced wound care marketplace. Its core strategy plans to meet the growing demand for care solutions by leveraging proprietary innovation and healthcare technology towards science based solutions. TriStar recently acquired HemCon Medical Technologies Inc., a developer, manufacturer, and marketer of innovative technologies for advanced wound care and hemostatic devices for the control of bleeding resulting from traum...