High-Tech Massachusetts Company Files Chapter 7 Bankruptcy

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PathoGenetix, a Massachusetts company that has been developing a genetic scanner to identify pathogenic bacteria in food samples, has recently filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court, District of Massachusetts. From an article in the Boston Business Journal by Don Seiffert, PathoGenetix had $3.5 million in assets and $1.4 million in liabilities at the time of the bankruptcy filing. The company’s board of directors voted that it would “terminate all employees” except Manny Bougoulas, senior director of corporate finance, and “two-three employees to wind down operations, administer the Chapter 7 filing and decontaminate the equipment and laboratory.” In December 2012, PathoGenetix named Ann Merrifield, a former executive at Genzyme Corp., as its CEO. They reportedly planned to launch the company’s proprietary genome sequence scanning technology for food safety testing and outbreak investigation, providing the technology to food industry and government customers as early as 2013. The company’s Website then stated that it would begin its Resolution Microbial Genotyping System for food safety testing and public health investigations of food borne illness outbreaks starting in 2014. However, press releases issued just this past May said that system would not be ready until 2015. According to Crunchbase, the definitive database of the startup ecosystem, PathoGenetix was founded in 1997 by Jens Kurth under the name of U.S. Genomics. It has received $24 million in funding, the most recent round of which was a $10 million Series C financing in October 2013 from Ascension Health Ventures, Excel Venture Management and HealthCare Ventures, the Boston Business Journal reports. If you are considering filing Chapter 7 or Chapter 13 bankruptcy due to extreme financial distress, please call us right away. The Client First Bankruptcy attorneys are among the most knowledgeable consumer bankruptcy attorneys in the U.S., representing thousands of clients in consumer bankruptcy matters. Call us toll-free at 800-383-6004 Monday thru Friday from 8:30 a.m. – 6:00 p.m. Central Time. For vital information on filing your personal Chapter 7 or Chapter 13 bankruptcy anytime, log onto our easy-to-navigate, interactive website at www.clientfirstbankruptcy.com.

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Kansas Politicians Have Filed Bankruptcy

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Jennifer Winn and her running mate, Robin Lais, are running in the Kansas Republican gubernatorial primary race; they have each filed bankruptcy in the past. According to an article by Bryan Lowry in The Wichita Eagle, Winn owns a landscaping business in Wichita; she filed for Chapter 7 bankruptcy in 2004, with debts totaling $79,000. She had gone through a divorce, did not receive court-ordered child support and had been left with overwhelming marital debts. “’I was not able to keep up, so I filed bankruptcy when I could no longer keep my home. It was very difficult for me, but I’m not ashamed of it, because that’s obviously why we have it in place – for people who get in situations that they can’t get out of. I found myself in a situation where I had no other alternative, and thousands of people find themselves in that situation,’” Winn told the reporter. Lais, a single mother, filed for Chapter 13 bankruptcy twice, in 1997 and 2002. She avers that the first bankruptcy was a result of overpowering medical debt for her daughter, who is an epileptic. Her second bankruptcy occurred when clients of her advertising business went out of business and she was not paid.  “’As a business owner, it’s not always a piece of cake. We do have hardships, and I think the best thing is to keep going forward. Will life throw things at you? Yes, it will,’” stated Lais. Winn said the experience of going through bankruptcy gives her a perspective that her Democrat political opponents lack. The attorneys at Client First Bankruptcy have represented thousands of clients that have had to file bankruptcy due to overwhelming medical bills. If you are contemplating filing for a Chapter 7 or Chapter 13 personal bankruptcy due to piles of unpaid medical bills, do not proceed without an experienced and knowledgeable bankruptcy attorney from Client First Bankruptcy at your side. Client First Bankruptcy attorneys answer their phones from 8:30 a.m. to 6:00 p.m. Central Time, Monday thru Friday, so you can get your initial complimentary consultation at a time that is convenient for you. Our aggressive representation and extensive experience have earned Client First Bankruptcy a national reputation for excellence in the representation of debtors in financial distress. Call us toll-free at 800-383-6004 and log onto our new, easy-to-navigate, interactive website at www.clientfirstbankruptcy.com for timely and vital information on filing your Chapter 7 or Chapter 13 bankruptcy.

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