Terion Inc. said that the U.S. Bankruptcy Court, Middle District of Florida, Orlando Division, has confirmed Terion’s plan of reorganization, effective August 30.
The court approved Terion’s plan on August 14, 2002, after having received the approval of all classes entitled to vote on the plan. Terion’s committee of unsecured creditors supported confirmation of the plan with an effective date of August 30, 2002.
President Ken Cranston said Terion’s emergence validates the importance and demand for its FleetView product.
"We are pleased to exit bankruptcy in such an expedited time frame," he said. "Our customers and investors have recognized the positive impact trailer fleet management systems can have on the efficiency of the supply chain."