ABN Emerges From Bankruptcy
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ENGLEWOOD CLIFFS, NJ—American Banknote (ABN), which traces its roots to 1795 and Paul Revere as an original printer of United States currency, has emerged from bankruptcy protection for the first time since 1991.
Under the terms of the reorganization, American Bank-note emerges with a restructured balance sheet, featuring a reduction of debt of more than $1 million (including accrued, but unpaid, interest) and a significant increase in shareholder equity.
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