NMT Medical begins liquidation procedures

April 19, 2011 by MassDevice staff

Tapped out, de-listed and unable to land new financing, NMT Medical begins to liquidate its assets to repay creditors and closes up operations.

NMTI logo

NMT Medical Inc. (PINK:NMTI) began liquidating its assets in an attempt to repay its creditors.

Officials at the Boston, Mass.-based company said it entered into an Assignment for the Benefit of Creditors, effective immediately. The legal maneuver is an alternative to formal bankruptcy that transfers all of NMT's assets to a designated party, which can then liquidate assets and distribute the proceeds to creditors.

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