Evident Technologies Files for Bankruptcy

Filed in archive Business on July 10, 2009

© TheTruthAbout

New York-based nanotech company Evident Technologies this week filed for Chapter 11 bankruptcy protection.

"The company, headed by president and CEO Clint Ballinger, lists $4.8 million in debts in its court filing in the U.S. Bankruptcy Court in Albany," notes The Albany Business Review's Adam Sichko. "The company also lists $3.9 million in assets."

"Ballinger said a protracted legal battle with the California biotechnology company Invitrogen Corp. had sapped Evident financially," writes The Albany Times Union's Larry Rulison. "Bankruptcy documents show Evident owes the law firm representing it in the case, Kenyon & Kenyon LLP of New York City, nearly $1 million. The case, which alleges patent infringement, was brought against Evident in spring 2008."

More here from the Troy Record ... and the press release is here.