Liquidating AtheroGenics Sells Off All Its Assets

Law360, New York (April 15, 2009, 12:00 AM EDT) -- Startup pharmaceutical company AtheroGenics Inc. has sold off its assets and ceased conducting business operations as it moves closer to completing the liquidation process.

“All of the company's noncash assets have been sold,” said Paul Ferdinands, a partner at King & Spalding LLP who represents AtheroGenics in the Chapter 11 case. “There are no material remaining assets in the bankruptcy estate other than the cash received from the sale and the cash on hand.”

According to an amended disclosure statement filed Tuesday and approved that same...
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