Cal-Bay Resolves Major Lawsuit against Company
Cal-Bay International (OTC: CBAY) this past week announced that Cal-Bay International has reached an amicable settlement with one of the company’s largest creditors in an out of court settlement agreement, case # 07CC08736.
The settlement includes full relief of the debt to Cal-Bay and the removal of judgments against the company. The agreement also calls for satisfaction of the debt “With Prejudice.”
Melinda Rice of Cal-Bay International, Inc. commented that the company’s legal counsel reached an amicable settlement of the lawsuit “With Prejudice,” ensuring the permanent resolution of the issue.
The settlement terms are to remain confidential but will not result in a new issuance of the company’s stock to satisfy the agreement.
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October 26, 2008 @ 3:10 am
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