This story originally ran on Dec. 1 and has been updated to include additional comments.

By Tony Fong

Moving one step closer to regaining solvency, Vermillion last week filed a plan of reorganization that would allow it to emerge from bankruptcy.

A hearing on the disclosure statement is set for Dec. 8, and a confirmation hearing on the plan is scheduled for Jan. 7, 2010, before Judge Christopher Sontchi of the US Bankruptcy Court in Delaware.

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