Tag: Confirmation

Labor Unions Appeal Akorn’s Ch. 11 Plan Confirmation In Del.

Law360 (September 21, 2020, 9:17 PM EDT) — A group of labor unions on Friday appealed biopharmaceutical firm Akorn Inc.’s Delaware Chapter 11 confirmation, arguing the debtors failed to properly evaluate a Chapter 7 liquidation and measures that could potentially lead to monetary recovery for them.

The unions — which include units of 1100SEIU, AFSCME District Council 47, and Sergeants Benevolent Association — are challenging the order confirming Akorn’s Chapter 11 plan signed earlier this month by U.S. Bankruptcy Judge Karen B. Owens. They also ask that the order be stayed pending the appeal.

The unions, which were also plaintiffs in multidistrict litigation asserting antitrust claims against Akorn, argue…

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Prysm Cruises To Unopposed Ch. 11 Plan Confirmation

Law360 (September 15, 2020, 6:43 PM EDT) — Big-screen display and software maker Prysm Inc. received approval Tuesday from a Delaware bankruptcy judge for its Chapter 11 plan of reorganization, just five weeks after filing its insolvency petitions as no parties to the case opposed the plan.

During a hearing conducted via phone and videoconference, debtor attorney Ronald S. Gellert of Gellert Scali Busenkell & Brown LLC said the pre-packaged plan hadn’t changed much since it was filed on Aug. 6, the first day of the case. It calls for senior secured lender ESW Capital to pay $12 million in cash for Prysm’s software assets while pledging to spin-off…

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In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the

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