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Digitran Systems Inc. Files For Protection from Creditors.(Originated from The Salt Lake Tribune)
Knight Ridder/Tribune Business News, October, 1996 by Oberbeck, Steven
Oct. 1--Digitran Systems Inc. has filed for Chapter 11 protection in the U.S. Bankruptcy Court in Wilmington, Del., the state where it originally incorporated.
The embattled Logan-based maker of simulators for truck drivers, crane operators and petroleum-industry workers, listed assets of $1.7 million but said it owed creditors $20.3 million.
In a statement Monday, Digitran's management said it filed the Chapter 11 to protect its shareholders, creditors and employees from a possible judgment in a class-action lawsuit in the U.S. District Court for Utah.
Minnesotan Gregory McEwen in August 1993 filed a shareholder class-action lawsuit against Digitran and several company executives, who at that time included president Donald Gallent and company...
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