AstraZeneca Affiliate Running Factory Cleanup Enters Ch. 11

Law360, New York (October 24, 2012, 2:47 PM EDT) -- An AstraZeneca PLC affiliate that planned to clean up and develop a contaminated factory near San Francisco filed for Chapter 11 bankruptcy in Delaware federal court Tuesday, saying it owes creditors at least $27 million.

Cherokee Simeon Venture I LLC, which said it owns over $10 million in assets, estimated that its liabilities amongst five unsecured creditors — including AstraZeneca subsidiary Zeneca Inc. — range between $27 million and $43 million, according to Tuesday's filing.

“It is desirable and in the best interests of the company,...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.