AireSurf Networks Holdings Inc.

AireSurf Networks Holdings Inc.

November 19, 2010 15:55 ET

AireSurf Networks Holdings Inc.: Court Approves Bankruptcy Proposal

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2010) - AireSurf Networks Holdings Inc. (CSNX:ANH) (the "Company") announces that further to its press releases of September 22, 2010, and October 8, 2010, the Superior Court of Justice for Ontario in Bankruptcy and Insolvency has approved the Company's bankruptcy proposal. Pursuant to the proposal creditors who have filed a proof of claim with the trustee will receive one common share of the Company for every $0.05 of indebtedness. Risman & Zysman Inc., the trustee, will be forwarding notice of the court approval in due course. Creditors have thirty days to file a proof of claim, otherwise they will be ineligible to take advantage of the proposal.

Shares Outstanding: 50,317,596

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