AMERICAN ADVENTURE <GOAA> SETS BANKRUPTCY PLAN
American Adventure Inc said a
U.S. Bankruptcy Court confirmed its reorganization plan.
    The plan calls for the sale of substantially all the assets
of the company to a new company that will retain the same name,
but be incorporated in Delaware.
    The comany said the transaction is expected to close later
this month.
    Shareholders will receive one share of stock in the new
company for every 10 shares they hold currently.
 Reuter
