Unilife Ch. 11 Plan Gets Interim OK, Despite Gaps

By Jeff Montgomery (October 25, 2017, 9:04 PM EDT) -- Medical device maker Unilife Corp. on Wednesday nailed down Delaware court dates for a confirmation hearing on its liquidating Chapter 11 plan, although estate values and creditor recovery estimates remain in flux, and unsecured creditors would not rule out a challenge.

U.S. Bankruptcy Judge Laurie Selber Silverstein approved the company's combined disclosure statement and plan on an interim basis with few questions, but noted the scarcity of numbers.

"We did have a discussion of the value of the liquidation analysis," Unilife counsel  Eric L. Scherling of Cozen O'Connor said. "The fact that the claim pool is still fluid, the conclusion was...

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