Sequencing-based Pathogen ID Firm PathoGenetix Files for Chapter 7 Bankruptcy | GenomeWeb

NEW YORK (GenomeWeb) – PathoGenetix has filed for Chapter 7 bankruptcy in US Bankruptcy Court District of Massachusetts.

Unlike Chapter 11 bankruptcy, which allows a company to reorganize its business while being protected from its creditors, Chapter 7 bankruptcy provides for liquidation and is generally sought when a firm cannot pay its debts and its creditors.

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