SynCardia Pushes For Rapid Ch. 11 Sale Process

Law360, Wilmington (July 6, 2016, 7:56 PM EDT) -- Artificial-heart-implant maker SynCardia Systems Inc. told a Delaware bankruptcy judge on Wednesday that it wants the company's sale to be completed by Aug. 22 and is preparing bid procedures for submission to the court by Aug. 1.

During a first-day hearing in Wilmington, attorneys for the debtor said a sale process that moves as swiftly as possible is in the best interests of the company, its creditors and the patients whose lives depend on its products. Selling the company to the highest bidder will ensure that first-lien creditors are paid and the total heart replacement implants already inserted into patients' bodies...

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