Bankruptcy
On February 9, 2009, MRU filed for Chapter 7 bankruptcy liquidation and suspended all operations. The company received a payment acceleration notice from Longview Marquis Master Fund LP due to the breach of a loan covenant. The covenant called for MRU to reduce their receivables by $5 million by January 28, 2009.
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Famous quotes containing the word bankruptcy:
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—Eric Hoffer (1902–1983)