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Composite Technology Corporation and CTC Cable filed bankruptcy in May 2005. In april 2011, CTC filed it’s 2nd U.S. Bankruptcy less than 18 months after concluding its initial bankruptcy.
The most recent 2011 bankruptcy is still ongoing.
In August 2011, Russian entities Kaskol and RU-COM jointly acquired Composite Technology Corp’s assets out of its U.S. bankruptcy proceedings in a deal valued at more than $11 million, Dow Jones Daily Bankruptcy Review reported. The Russian companies’ joint venture, called CTC Acquisition Corp., paid $1 million in cash and assumed the responsibility for at least $10.5 million in Composite Technology’s liabilities, according to a purchase agreement filed with the U.S. Bankruptcy Court in Santa Ana, California. CTC Acquisition Corp subsequently changed its name to CTC Global.