Industry News – Progess Watch Obtains Another Bankruptcy Adjournment

A Swiss Federal judge has granted Progress Watch another extension in its bankruptcy proceeding, until the end of February 2003.

The Court was satisfied Progress is making positive strides with the ongoing development of the Calibers 152 and 154, which the firm has pushed with newly employed technicians.

Two independent investor groups (Groupe Bianchi from Zurich and Thurn & Taxis from Zurich/New York) attended the hearing and vouched that Progress Watch will have a solid financial future.