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FIAC Corp., et al

  1. January 20, 2017

    IMX Equity Panel Offers Fee Cap For Ch. 11 Lender Suit

    Attorneys for IMX Acquisition Corp. stockholders offered a $2 million cap Friday on future regular litigation fees for a potential suit against company lenders, citing far higher potential damage recoveries for lender tactics that allegedly drove the company into a Delaware bankruptcy court.

  2. January 19, 2017

    IMX Lenders Oppose Equity Holders' Standing Request

    Secured creditors of Implant Sciences Inc., a subsidiary of IMX Acquisition Corp., objected Wednesday in Delaware to the company's equity holders' request to bring litigation against the lenders in New York state court, saying the litigation will be wasteful and isn't warranted in the case.

  3. December 12, 2016

    Stalking Horse Is Top Bidder For Implant Sciences' Assets

    Implant Sciences Inc. announced Friday in Delaware that the stalking horse bidder for the bomb detection maker's assets was the only qualified offer received ahead of a planned Chapter 11 auction and that it would be designated as the successful bidder.

  4. November 29, 2016

    Implant Sciences Equity Holders Get Challenge Extension

    The official committee of equity security holders in the Chapter 11 case of bomb detector maker Implant Sciences received court approval in Delaware on Tuesday for another month to investigate and file challenges to prepetition secured claims.

  5. November 23, 2016

    Implant Sciences Explodes Over Ch. 11 Equity Group Demand

    Implant Sciences Inc. and its lenders Wednesday slammed a shareholder committee's bid to deeply probe the bomb detection technology company's financial history, telling a Delaware bankruptcy judge the committee is heading for "an unfettered fishing expedition."

  6. November 04, 2016

    Implant Sciences Gets OK For Replacement $8M DIP Loan

    Bomb detection technology firm Implant Sciences Inc. has a new post-petition lender after receiving Delaware bankruptcy court approval Friday on an $8 million loan obtained following a debtor-in-possession financing auction held late Thursday, with better terms than its original facility.

  7. November 02, 2016

    Implant Sciences Shareholders Target DIP Loan, Atty Hires

    The newly minted official equity committee in the Implant Sciences Inc. bankruptcy case launched opposition Tuesday and Wednesday to the expenses connected to the bomb-detecting company's post-petition financing and retentions, including an application for Ellenoff Grossman & Schole LLP to be special corporate counsel.

  8. October 24, 2016

    Implant Sciences Ch. 11 Gets Official Equity Committee

    The U.S. trustee's office appointed an official equity holders committee Monday in the Chapter 11 case for bomb-detecting firm Implant Sciences Inc., and argued the bankruptcy court should delay consideration of the debtor's auction plan to give shareholders more time to look it over.

  9. October 12, 2016

    Bomb Detector Co. Gets Interim OK For $1.5M DIP Draw

    The company that makes bomb and drug detectors used in American airports received interim approval Wednesday in Delaware bankruptcy court to draw $1.5 million of a proposed $5.7 million debtor-in-possession financing package to help finance its bankruptcy sale process.

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