EXHIBIT 99.1
CONTACT: James Weil, CEO
(650) 269-1728
jamesweil@hotmail.com
Calico Commerce, Inc. Announces
Bankruptcy Court Approval of its Disclosure Statement
July 7, 2003, San Jose, California Calico Commerce, Inc., announced today that on June 27, 2003, the U.S. Bankruptcy Court approved the Disclosure Statement relating to the joint Plan of Reorganization filed by Calico and its Official Committee of Equity Security Holders, enabling the Company to commence soliciting approval of the Plan.
The Company and the Equity or Committee filed the Plan and Disclosure Statement on June 30, 2003, and expect to distribute voting materials to affected parties beginning on or about July 10, 2003. A hearing before the Bankruptcy Court on confirmation of the Plan is expected on August 14, 2003.
The plan provides for the payment in full of all undisputed, non-contingent claims of creditors against the Company, with all remaining assets to be distributed to the Company's stockholders.
The Plan also provides for resolution of the class claim filed in the Company's chapter 11 case by the ...
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