Inex bankruptcy case judgment reserved to Oct. 27

New York, Oct. 12 - Inex Pharmaceuticals Corp. said the judge hearing the bankruptcy petition brought by Stark Trading and Shepherd Investments International Ltd. has reserved judgment until Oct. 27.

As announced on Sept. 28, Stark, the majority holder of promissory notes due 2007 issued by Inex's subsidiary Inex International Holdings, has filed a petition in the Supreme Court of British Columbia seeking to have the company declared bankrupt.

At maturity the notes can be repaid in stock or cash at Inex's option.

The Vancouver, B.C.-based biopharmaceutical company said it is opposing the action.

Stark previously delivered a default notice demanding payment of $24.6 million by Sept. 21.

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