Dan River Inc., a Danville-based
textile manufacturer, received approval from federal
bankruptcy court for its plan to emerge from Chapter
11 bankruptcy. The company secured a $120 million financing
agreement with Abelco Finance of New York to provide
cash to continue operations, and the company was cleared
to reissue common stock. Dan River filed for Chapter
11 on March 31, 2004 after a period of declining sales.
(Danville Register & Bee)
MicroStrategy Inc., a software
products provider headquartered in Reston, won a favorable
ruling from a federal appeals court that affirmed a
lower court decision the company did not infringe on
patents held by Business Objects, a San Jose, Calif.,
technology company. The court returned the suit to the
lower court to hear one remaining patent claim. (PR
Newswire)
