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Chemokine Therapeutics Corp. (CTI.TO) Announces Intention to File a Proposal to Creditors



12/8/2008 11:45:36 AM

VANCOUVER, BRITISH COLUMBIA--(Marketwire - December 05, 2008) - Chemokine Therapeutics Corp. ("Chemokine Therapeutics" or the "Company") (TSX: CTI)(OTCBB: CHKT), a biotechnology company developing chemokine-based therapies to treat cancer, blood disorders, and vascular disease today announced that Deloitte & Touche Inc. ("Deloitte") has been appointed as Trustee to act pursuant to the Company making a proposal to its creditors under Part III, Division I, of the Bankruptcy and Insolvency Act. The Officers of the Company have been relieved of their duties and the Board of Directors has resigned following the appointment of Deloitte as Trustee under the proposal. Mr. Walter Korz and Dr. Donald Wong will remain as consultants to assist Deloitte with the re-structuring process.

Read at BioSpace.com


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