Cygnal Technologies emerges from court-approved restructuring plan

MARKHAM – A new board of directors, including Sayan Navaratnam, Jos Wintermans and Dominic Burns, has joined Cygnal Technologies Corp., as the company has emerged from Court-supervised restructuring. Cygnal said in a media release on Wednesday that it has satisfied the conditions to implementation of its joint plan of arrangement and reorganization dated January 29, 2008, and amended on March 12, 2008. Cygnal obtained creditor approval of the plan on March 7, 2008 and a final order of the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act (the CCAA) on March 17, 2008. Pursuant to the plan,...