MARKHAM - Cygnal Technologies announced late Monday that Ontario Superior Court of Justice has agreed to extend protection under the Companies’ Creditors Arrangement Act until January 31, 2008. The purpose of the stay of proceedings is to provide the applicants with relief designed to stabilize their operations and business relationships with their customers, suppliers, employees, and creditors and to provide the Applicants with an opportunity to develop a plan of arrangement to propose to creditors for the restructuring of, among other things, some or all of the Applicants' liabilities. Cygnal, a supplier of goods and services to the telecom and...
