Bloomberg – 8/4/14: Phoenix Payment Systems Inc., a processor of credit card and electronic check transactions, sought bankruptcy protection from creditors saying it plans to sell the company to a North American Bancard LLC unit or a higher bidder. The company cited as much as $50 million each in assets and debts in Chapter 11 papers filed today in U.S. Bankruptcy Court in Wilmington, Delaware.
Click here to read more: http://www.bloomberg.com/news/2014-08-04/phoenix-payment-systems-seeks-bankruptcy-protection-sale-1-.html

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