Medical company facing involuntary bankruptcy petition
Creditors of a medical company in the region have commenced involuntary bankruptcy proceedings against the business.
The proceedings, under Chapter 11 of the U.S. Bankruptcy Code, are against Kalamazoo-based Medizone International, according to the company today.
The creditors that have commenced the proceedings include Edwin Marshall, the former chairman and CEO of the company, and Jill Marshall, the company’s former director of operations.
The company is now "evaluating its options."
Medizone International (OTCQB: MZEI) said it is “focused on commercializing” its AsepticSure System, which is a machine that uses a patented ozone-based gas formula to disinfect air to kill pathogens and prevent infection. The machine has applications in health care settings.
The company’s current CEO is David Dodd, according to its website.