Nortek Emerges from Chapter 11 Bankruptcy

Nortek, Inc. emerged from Chapter 11 bankruptcy proceedings on December 17, 2009, and adopted fresh-start reporting as of December 19, 2009. The company's financial statements are now presented as 'Successor' for post-emergence periods and 'Predecessor' for prior periods.

“On December 17, 2009 (the “Effective Date”), the Company emerged from bankruptcy proceedings under Chapter 11 of the United States Bankruptcy Code (“Chapter 11”). In connection with its emergence from bankruptcy, the Company adopted fresh-start reporting pursuant to the provisions of Accounting Standards Codification (“ASC”) 852, Reorganization (“ASC 852”).”

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