SUN VALLEY, Calif., April 14 /PRNewswire/ -- Sanitec Industries, Inc. (www.sanitecindustries.com),the global patent holder for the environmentally friendly Sanitec(R) Microwave Healthcare Waste Disinfection System(TM), has successfully emerged from its Chapter 11 case. The United States Bankruptcy Court for the Central District of California ruled yesterday that the plan of reorganization submitted by Sanitec Industries should be confirmed thus clearing the way for the company to end its bankruptcy case. In addition to confirming Sanitec Industries reorganization plan, the court approved Sanitec Industries rejection of a disputed license agreement with MicroWaste Corporation which the latter company contended allowed it to manufacture and sell medical processing equipment using Sanitec Industries' patented technology.
In approving Sanitec's plan, which provides for the full payment of Sanitec Industries' creditors over a period of time, United States Bankruptcy Judge Maureen Tighe denied an onslaught of motions filed by MicroWaste Corporation to try to derail the plan. Finding that MicroWaste's efforts "bordered on bad faith", Judge Tighe overruled every argument made by MicroWaste in an attempt to sidetrack Sanitec Industries plan to repay its creditors and emerge from bankruptcy.
According to Sanitec Industries' president, James Harkess, "The Court's approval today triumphantly marks the end to a long tedious battle that ultimately opens the door for a whole new generation of Sanitec Technology."
Mr. Harkess went on to explain, "We are now moving into the future, turning disinfected medical waste into bio fuels... diesel, grease and gasoline. Explaining, "Sanitec's Green Recycling Programs are also developing a reusable industrial grade co-mingled plastics market, aimed at keeping millions of our client's disinfected medical waste out of the world's landfills."
Joe Delloiacovo, Vice President of Business Development and Regulatory Affairs stated that "Sanitec Industries has several unit sales pending as international customers await permits and/or are closing on financing arrangements."
These Sanitec Microwave Disinfection Units are to be assembled in Elkhart, Indiana. Purposely chosen by Mr. Harkess to help jumpstart that area's manufacturing economy, and to coincide with the opening of his newest treatment and recycling facility, Sanitec of Indiana, located at 2020 Montcalm Street, Indianapolis, Indiana as early as mid-May of 2009.
About Sanitec Industries, Inc.
Sanitec Industries, Inc. is the global patent holder for the Sanitec(R) Microwave Healthcare Waste Disinfection System(TM). Healthcare facilities nationwide, ranging from large hospital systems to single practitioner doctors' offices, utilize Sanitec systems to transform dangerous healthcare waste into low-volume, unrecognizable, non-infectious material that requires no further treatment and can be safely disposed of in municipal landfills. The process is also HIPAA compliant, protecting patient privacy and preventing possible identity theft by ensuring that all patient information on medical waste is rendered unrecognizable. Sanitec(TM) units are fully automated, self-contained and are approved for use throughout the US and around the world. Worldwide, Sanitec systems are treating over 500 tons per day of infectious medical waste.
|SOURCE Sanitec Industries, Inc.|
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