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Implant Sciences Ch. 11 Confirmed, Cash Fight Continues

Law360, Wilmington (August 3, 2017, 8:08 PM EDT) -- Warnings of battles to come clouded a Delaware Chapter 11 confirmation on Thursday for remnants of former bomb detection company Implant Sciences, with an equity committee attorney objecting to what he said were eleventh-hour moves to drain extra cash from the estate.

William R. Baldiga of Brown Rudnick LLP, counsel to the company’s official committee of equity security holders, urged Judge Brendan L. Shannon to make the plan effective immediately after his confirmation, in order to accelerate a shift in control to a liquidation trustee....
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