We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Noteholders To Buy Metamorphix Assets For $6M

Law360 (March 9, 2011, 5:40 PM EST) -- A Delaware bankruptcy judge said Wednesday she would approve the sale of biotechnology company Metamorphix Inc.’s assets to noteholders for a $6 million credit bid.

Judge Mary F. Walrath said at a hearing in the U.S. Bankruptcy Court for the District of Delaware that she would sign off on the sale to Branhaven LLC, the collateral agent for noteholders owed $34 million, once the debtors submit a purchase agreement that reflects the resolution of various objections concerning the assumption and assignment of contracts.

Adam Hiller of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.