Judge Finds No Fraud In Vote For Melinta's Ch. 11 Plan
Law360 (July 7, 2020, 5:34 PM EDT) -- Emphasizing that she found no fraud in vote-handling or counts prior to confirmation of antibiotic developer Melinta Therapeutics' Chapter 11 reorganization in April, a bankruptcy judge in Delaware declined Tuesday to reconsider a recent denial of stockholder requests to revoke the plan.
U.S. Bankruptcy Judge Laurie Selber Silverstein noted her decision after listening at length to requests from former Melinta stockholder Lin Luo for a clarification of the court's ruling on voting eligibility and tabulations for the company's plan, built largely on a $140 million debt for equity swap with the company's top creditor.
"I saw no fraud in the presentation...
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