Fresenius Takes Fiery Aim At Akorn's Ch. 11 Plan Disclosures
Law360 (June 26, 2020, 8:00 PM EDT) -- Global health care company Fresenius Kabi AG pilloried bankrupt Akorn Inc. Friday in an objection to the generic-drug maker's Delaware Chapter 11 disclosure, alleging major omissions, improper liability releases, violation of absolute payment priority rules, and misclassification of a potential $74 million Fresenius unsecured claim.
The objection opened a new chapter in an already bitter history between the two companies over a $4.3 billion merger that evaporated in 2018 after Delaware's Chancery Court sided with Fresenius in a claim that Akorn breached the deal in part by withholding information about serious regulatory compliance problems.
Akorn is scheduled for a July 1...
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