Genuity, Inc. (GENU) Message Board

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Technology Stocks : Genuity, Inc. (GENU)

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To: Nick who started this subject	6/12/2003 12:27:59 AM
From: Kent Rattey	Read Replies (1) of 456

Genuity Doubts Holders Will Receive Liquidation Proceeds Wednesday June 11, 4:24 pm ET Dow Jones Business News WASHINGTON (Dow Jones)--Genuity Inc. said it believes its shareholders won't receive any proceeds from the liquidation of its remaining assets, according to a filing Wednesday with the Securities and Exchange Commission (News - Websites). Genuity's subsidiaries that aren't part of the bankruptcy proceedings are also winding down their operations, Genuity said. As a result of uncertainties regarding potential claims against Genuity and the amount of available proceeds, the company said it isn't possible to predict when the liquidation will be completed or how much will be available for distribution to creditors. Genuity filed for Chapter 11 bankruptcy protection last fall and agreed to sell most of its assets to Level 3 Communications Inc. . -By Nicholas P. Braude, Dow Jones Newswires; 202-628-7686; nicholas.braude@dowjones.com

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