Union Funds Lose Bid To Pause Akorn's Ch. 11 Confirmation

Law360 (October 21, 2020, 6:17 PM EDT) -- A group of labor union benefit funds lost their bid Wednesday to stay the order confirming biopharmaceutical firm Akorn Inc.'s Chapter 11 plan pending an appeal of a Delaware bankruptcy judge's approval of the plan.

During a video hearing, U.S. Bankruptcy Judge Karen B. Owens also swatted aside the funds' opposition of settlements related to shareholder suit payouts and the transfer of Akorn's interests in a drug product to another company.

"I don't think there is any relief I can fashion here," Judge Owens said of the stay request. The judge pointed out that Akorn's Ch. 11 plan took effect earlier...

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