GDC emerges

General DataComm Industries said that it has won approval to emerge from Chapter 11. The vote of all interested parties was overwhelmingly in favor of the Plan. The Effective Date of the Plan is expected to occur by August 31, 2003. Under the terms of the Plan, creditors will receive payment of 100% of their claims over a five-year period, and shareholders will retain their shares subject to a one-for-ten reverse stock split. General DataComm develops and evolves smart solutions that maximize the use of current infrastructure, reduce the cost of ownership and increase revenues by providing concurrent IP and traditional voice and data solutions for managed NEBS-compliant and Enterprise environments. By Vince Vittore