Aventis Wins Dismissal Of $3M Fraudulent Transfer Suit

Law360, New York (January 28, 2010, 6:43 PM EST) -- Aventis Pharmaceuticals Inc. has won the dismissal of an adversary proceeding aimed at forcing the drug giant to return a $3 million payment it received from Aphton Corp. in connection with the failure of the planned immunotherapy drug Insegia.

Judge Christopher Sontchi of the U.S. Bankruptcy Court for the District of Delaware on Wednesday dismissed Aventis from the complaint brought by the trustee for the now-bankrupt Aphton, which had partnered with Aventis to market the drug.

The trustee, Wayne Walker, had argued that Aphton did not...
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