Constellation Copper goes under

Dec 23, 2008 | 01:48 PM | Anne Riley

Constellation Copper Corp. has filed for bankruptcy under the Canadian Bankruptcy and Insolvency Act, ending a rigorous but unsuccessful 16-month attempt to locate a buyer and pull itself out of massive debt.

"The company has been actively pursuing its strategic alternatives, including various near-term financing alternatives, such as bank financing, equity investment, mergers and sale of certain assets or sale of the entire company, as first announced in September 2007," Patrick James, chairman, president and chief executive officer, said in a statement. "Unfortunately, we have been unsuccessful in finding a solution to the company's cash liquidity problems."....

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