Major touchscreen games manufacturer JVL Corporation has encountered financial difficulties.
The company is effectively in the Canadian version of what would be Chapter 11 in the US, protecting the company from its creditors pending proposals to refinance.
A Canadian finance house has been engaged by JVL to assist in the proposal to creditors under Canada’s Bankruptcy and Insolvency Act, which will be filed on December 1. The company in the meantime will continue to operate normally until a meeting of creditors agrees to accept the proposed refinancing measures.
