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Microcap & Penny Stocks : Value Holdings (VALH) -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (1088)	3/7/2001 11:39:28 PM
From: kauaipi	Read Replies (2) \| Respond to of 1152

Bosco, Ron, llccman et al... an even more interesting story that seems to REALLY be the reason for the current stock price? BK protection? I sure didn't see this one coming... Ron, did Gemini Jon give you any indications when stating watch for the "pofitable" filings etc., that protection in the near term was in the cards? Normally I consider myself level headed but this is a MAJOR disappointment and set back in the short term. Anyone? VALH.OB 0.055 -0.007 Wednesday March 7, 8:50 pm Eastern Time Press Release SOURCE: Value Holdings, Inc. Value Holdings' Subsidiary Network Forest Products Files Application Under the Companies' Creditors Arrangement Act of Canada MIAMI, March 7 /PRNewswire/ -- Value Holdings, Inc. (OTC Bulletin Board: VALH - news), a holding company formed to acquire and consolidate industrial distribution businesses relating to the lumber and general building materials industry, today announced that its wholly-owned operating subsidiary, Network Forest Products Limited (``Network''), has obtained an Order of temporary protection from its creditors from the Ontario Superior Court of Justice pursuant to the Companies' Creditors Arrangement Act in respect to Network and its two operating subsidiaries, Cutler Forest Products Limited, and 471372 Ontario Limited, carrying on business as Harron Home Hardware. Under the Order, Richter & Partners Inc. has been appointed as Monitor of Network Forest Products and its subsidiaries. Network Forrest Products and its subsidiaries will continue to carry on their respective businesses in the ordinary course under the present management team of Network. Currently, a plan of compromise and arrangement is being developed for presentation to creditors. GMAC Commercial Credit Corporation-Canada, which consented, and is not subject, to the Order, continues as the principal banker to the Network businesses. Network and its subsidiaries conduct wholesale wood and wood product distribution operations principally in Ontario.