Business Services Industry
eCom eCom.com Announces Filing of Joint Plan of Reorganization
Business Wire, August 23, 2006
PALM BEACH GARDENS, Fla. -- eCom eCom.com, Inc. (Pink Sheets:ECEC) announced that on August 18, 2006 the "Joint Plan of Reorganization of Debtor and American Capital Holdings, Inc." was filed with the United States Southern District Bankruptcy Court by Kluger, Peretz, Kaplan & Berlin, the attorneys for the Debtor, eCom eCom.com, Inc. and Schiff-Hardin LLP, the attorneys for American Capital Holdings, Inc. Information regarding the Joint Plan of Reorganization can be reviewed on the company's website at http://www.ecomecom.net/banknews.htm.> The plan, which is subject to Bankruptcy Court approval, calls for the issuance of Thirty One Million Five Hundred Ninety Three Thousand Sixty Four (31,593,064) Common Shares to the Creditors listed in Exhibit "A" of the Plan. It is the intent of American Capital Holdings, Inc., if the Plan of Reorganization is confirmed by the Bankruptcy Court, to distribute the Twenty Three Million Two Hundred Eight Thousand Three Hundred Eight One (23,280,381) common shares as a dividend to American Capital Holdings, Inc.'s shareholders. The proposed date of record for this proposed stock dividend, which is subject to Bankruptcy Court approval, will be five (5) business days subsequent to the Plan of Reorganization's confirmation by the Bankruptcy Court.
In other matters, the National Association of Securities Dealers, (NASD) declared August 8, 2006 the ex-dividend date for the distribution of shares of American Capital Holdings, Inc. to the shareholders of eCom eCom.com, Inc. The dividend of .05 of a share of American Capital Holdings, Inc. for each share of eCom owned on January 5, 2004, the record date. These shares were distributed on August 7, 2006.
This release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual events or results may differ materially from those discussed in such forward-looking statements.
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