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Point Loma Execs, Directors Depart Company as Creditors Step In
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Point Loma Resources Ltd. reported that the directors of the Corporation have resigned, the officers have been terminated and the senior secured creditors have been given consent to appoint a receiver-manager.
Creditors have notified Point Loma's board that they are making arrangements for the appointment of a licensed receiver-manager to oversee the affairs of the company, with the aim of completing a restructuring of the Corporation and recommencing operations.
The Board has provided the Senior Secured Creditors with consent to such an appointment and agrees that it will not oppose an application made in court to such an appointment.
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