Ex-Aegerion CEO Says Ch. 11 Plan Vote Is Unfair

By Rick Archer (September 5, 2019, 5:13 PM EDT) -- A New York bankruptcy judge Thursday heard arguments from the former CEO of Aegerion Pharmaceuticals calling for the court to reject the company's Chapter 11 plan on the grounds that the creditor vote on the plan had been unfairly set up.

U.S. Bankruptcy Judge Martin Glenn heard counsel for ex-CEO Marc Beer argue that the unsecured creditors in the case had been arbitrarily divided into two classes to dilute the voting power of Beer and other former corporate officers, while counsel for the company defended the class structure as a business necessity.

Aegerion filed for Chapter 11 bankruptcy in May —...

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