Sonavation files for Ch. 11 reorganization; faces market without buyers

A United States company that designs and develops ultrasound biometric fingerprint scanners has filed for reorganization in the southern district of Florida's West Palm Beach division.

Sonavation, founded by James David, filed for reorganization under Chapter 11 of the U.S. bankruptcy code May 25, claiming it has not been able find a buyer for its biometric technology and no longer has the liquidity to maintain its operations, pay debts or maintain its intellectual property.

A creditors' meeting will be …

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