Cornerstone Propane
From RoyalWeb
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| − | Cornerstone Propane, (defunct symbol CNO), once the United States' leading supplier of propane gas, went through bankruptcy, following a liquidity crisis precipitated by their parent company's refusal to extend terms for debt payment. | + | Cornerstone Propane, (defunct symbol CNO), once the United States' leading supplier of propane gas, was formed Dec 1996 by Northwestern Growth Company([http://caselaw.findlaw.com/mo-court-of-appeals/1333369.html Source]). The company went through bankruptcy about 2003, following a liquidity crisis precipitated by their parent company Northwestern Growth Corporation's refusal to extend terms for debt payment. |
Their former website http://www.cornerstonepropane.com is now defunct. | Their former website http://www.cornerstonepropane.com is now defunct. | ||
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| + | Following the restructuring of Cornerstone about 2004 or 2005 the SEC filed charges against some of its top officers claiming filing of false statements, and failure to file financial statements. | ||
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| + | The major portion of Cornerstone changed it's named to Titan Energy Partners. However, evidently some of the smaller pieces of Cornerstone continue to use the name Cornerstone, so parts of it must have been sold off or divided. | ||
==Sources== | ==Sources== | ||
