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 1199SEIU, 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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