BRIEF-Danier Leather says co's directors resign upon assignment in bankruptcy

Mon Mar 21, 2016 4:55pm EDT
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March 21 (Reuters) - Danier Leather Inc

* Ksv kofman inc. Has been appointed as trustee in connection with bankruptcy proceedings

* Voluntarily made an assignment in bankruptcy pursuant to provisions of bankruptcy and insolvency act (canada) ("bia")

* Obtained an order of ontario superior court of justice appointing ksv kofman inc. As receiver over all of its property, assets,undertaking

* In connection with proposal proceedings, conducted a sale and investor solicitation process ,which process has since been completed

* Says that all of directors of danier have resigned with effect immediately upon assignment in bankruptcy

* On february 4, 2016 commenced insolvency proceedings by filing a notice of intention to make a proposal pursuant to bia. Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)