Savient Gets Nod For Ch. 11 Disclosure Statement

Law360, Wilmington (March 17, 2014, 8:11 PM ET) -- A Delaware bankruptcy judge on Monday approved Savient Pharmaceuticals Inc.'s Chapter 11 disclosure statement, allowing the drug developer to solicit votes for a liquidation plan that would see creditors divvy up proceeds from its $120 million sale.

At a hearing in Wilmington, Del., U.S. Bankruptcy Judge Mary F. Walrath endorsed the disclosure statement after ruling that a pair of objections from Savient shareholders dealt with the plan itself and should thus be handled at confirmation.

“I think it is adequate, and having overruled the shareholder objections,...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Savient Pharmaceuticals, Inc., et al.,


Case Number

1:13-bk-12680

Court

Delaware

Nature of Suit

Date Filed

October 14, 2013

Law Firms

Companies

Government Agencies