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Lumenon Canadian Subsidiary Files Bankruptcy

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MONTREAL, Jan. 13 -- Lumenon Innovative Lightwave Technology Inc.'s wholly owned Canadian operating subsidiary, LILT Canada Inc. (LILT), has filed for bankruptcy with the Superior Court of Quebec. All of Lumenon's operations and activities are performed through LILT. The order provides for an initial stay of 30 days, which could be extended by the court. During this period, Lumenon said LILT will continue its current operations and to develop its products. Gary Moskovitz, Lumenon's President and CEO, said, "The deterioration and the continuing uncertainty in the telecommunications sector has...Read full article

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    Published: January 2003
    CommunicationsNews & Features

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