http://sankei.jp.msn.com/economy/news/130704/biz13070419010017-n1.htm
The Tokyo district court has approved Index's application for Civil Rehabilitation Proceedings, and the plan lined up is that they will be searching for a sponsor for business transfer as previously expressed by the management. The court has given them 4 months to carry out the proceedings. The deadline is November 5th 2013.
In these 4 months they will be seeking applications from interested sponsors, vetting them, and eventually making a decision on who to transfer the business to. The investment firm GCA Savvian has been appointed as financial advisors for the sponsor search.
The Tokyo district court has approved Index's application for Civil Rehabilitation Proceedings, and the plan lined up is that they will be searching for a sponsor for business transfer as previously expressed by the management. The court has given them 4 months to carry out the proceedings. The deadline is November 5th 2013.
In these 4 months they will be seeking applications from interested sponsors, vetting them, and eventually making a decision on who to transfer the business to. The investment firm GCA Savvian has been appointed as financial advisors for the sponsor search.