Here is the address I just found it:
sptimes.com
Here is the article:
Judge's order: Move it or lose it
By TERESA BURNEY
c St. Petersburg Times, published April 22, 1998
AMPA -- A bankruptcy court judge told Universal Medical
Systems Inc.'s subsidiary to get its equipment and inventory out
of a Largo office building by May 26, or it will be sold at
auction.
Medical High Technology International Inc., a subsidiary of the once
high-flying public company, Universal Medical Systems (UMSI), asked
the U.S. Bankruptcy Court to protect it from its creditors on April 6.
Despite early popularity with investors, fueled by predictions of strong
sales for a scanner with software to design cancer treatment plans, the
company had failed to live up to expectations and never posted a
profit.
The company's stock price plunged and its landlord evicted Medical
High Technology and UMSI in January from its building in the Rubin
Icot Center after it failed to pay its rent. The day before the landlord
was scheduled to sell the companies' property left behind after the
eviction at a sheriff's sale, the bankruptcy was filed.
The action kept its former landlord, the First National Bank of Chicago,
from selling the building's contents. Then the landlord asked
Bankruptcy Judge Thomas E. Baynes Jr. to allow it sell the property,
despite the bankruptcy court stay. The landlord wants the building
emptied because it wants to lease the property and can't move in
because the building is full of the companies' property.
By Tuesday's hearing, Medical High Technology and the former
landlord had worked out a deal: The sale would be delayed until after
May 26, as long as Medical High Technology moved its property out of
the building. Meanwhile, property owned by UMSI, which is not
protected by the bankruptcy filing, can be sold and the proceeds given
to the landlord, Baynes ruled.
UMSI's stock closed at 11/4 cents Tuesday, unchanged from Monday. |
