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China Medical Technologies Faces Bankruptcy Petition from Bondholders

publication date: Jun 21, 2012
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China Medical Technologies, a maker of IVD and DNA medical devices, faces liquidation after bondholders filed a petition in the company’s Cayman Island home to force the proceeding. China Medical did not make a December 15, 2011 payment on its convertible bonds due in 2016. Meanwhile, the company has “gone dark,” neglecting to file its usual quarterly reports or communicate in any way with investors. Strangely enough, the company's stock price is rising as the news gets worse. More details....

Stock Symbol: (OTCBB: CMEDY)

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