Court approves Cygnal restructuring plan, company to go private

MARKHAM – Cable and telecom equipment and services supplier Cygnal Technologies said today that the Ontario Superior Court of Justice approved the company’s plan of arrangement and reorganization. Assuming all pre-conditions to the plan implementation have been met, it is to take effect on the first moment on the date upon which the certificate of amendment is issued under the Ontario Business Corporations Act in respect of the articles of reorganization of Cygnal to be filed by Cygnal in accordance with the plan, says the press release outlining the company's next steps under bankruptcy protection.It is currently anticipated to be...