Gateway Capital Offers To Fund SeraCare's Ch. 11 Exit

Law360, New York (August 24, 2006, 12:00 AM EDT) -- Gateway Capital Management LLC plans to submit a "superior" financing proposal to propel SeraCare Life Sciences Inc. out of Chapter 11 protection.

Gateway didn't specify any terms or details, but said it would disclose information prior to a hearing scheduled for Aug. 31. SeraCare plans to ask the court for approval of a competing offer to provide $15 million in debtor-in-possession financing to support its proposed plan at the hearing.

“Gateway intends to work with the debtor, the official committee of unsecured creditors, and other key...
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