Both companies have run out of operating funds, U.S. Bankruptcy Court records in Orlando show. Triton completes its Chapter 7 liquidation Jan. 31. The company initially filed for protection from creditors under Chapter 11 in March 2001.
Cavu Inc. filed a Chapter 11 petition in November 2001 and is now formally out of business after the court approved the sale of its core assets for $250,000 to Northwest Broadband of Yakima, WA on Jan. 24. Cavu spent $74 million of venture capital funds since 1999 to develop its wireless data system as an alternative to fiber-optic connections in urban areas, court filings show.
Besides Orlando, Cavu's systems were used in Jacksonville, FL; Miami, FL; Salt Lake City; Cleveland; and Oklahoma City.
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