Insys Therapeutics, Inc.

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Case overview

Case Number:

1:19-bk-11292

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

January 23, 2024
Ex-CEO's Counterclaims Not Allowed, Insys Trustee Says

The liquidation trustee of Insys Therapeutics on Tuesday asked a Delaware bankruptcy judge for an injunction preventing the pharmaceutical company's former CEO Michael L. Babich from pursuing counterclaims in a clawback suit from the trustee in Delaware's Chancery Court.
August 17, 2023
Judge Says Ex-Insys CEO Has To Repay $6M In Defense Fees

A Delaware bankruptcy judge Thursday found the liquidating trustee for drugmaker Insys Therapeutics can claw back $6 million it paid for the criminal defense of ex-CEO John Kapoor, saying Kapoor can't claim his defense was successful after serving prison time for the charges.
June 07, 2023
Ex-Insys CEO Says Legal Fee Clawback Unsupported In Ch. 11

The former CEO of drugmaker Insys Therapeutics told a Delaware bankruptcy judge Wednesday that he shouldn't have to return $6 million in legal fees the company advanced to him for criminal defense costs because he was partially successful in his defense, despite a conviction that came with jail time.
April 07, 2023
Insys Ch. 11 Trustee Slams Kapoor's Legal Fee Clawback Bid

A bankruptcy trustee for Insys Therapeutics has urged a Delaware judge to order imprisoned former company CEO John Kapoor to return nearly $6 million paid by Insys for his felony racketeering defense, arguing that Kapoor wrongly claimed that some cash went to dropped actions or civil matters.
January 16, 2020
Insys Wins OK For Ch. 11 Plan With Opioid Recovery Trust

Bankrupt drugmaker Insys Therapeutics Inc. secured confirmation in Delaware on Thursday for a Chapter 11 liquidation and recovery trust that could initially make $160 million available for victims of an opioid epidemic whose potential claims could climb into the billions.
January 09, 2020
Chubb Says Insys Ch. 11 Plan Unclear On Insurance Terms

A number of Chubb Group companies Thursday filed an objection to pain medication maker Insys Therapeutics Inc.'s Chapter 11 plan, saying it would create confusion about how their policy obligations would be treated.
January 06, 2020
SEC Says Insys 3rd-Party Releases Should Be Opt-In

The U.S. Securities and Exchange Commission on Monday urged the Delaware bankruptcy court to reject the third-party liability releases in pain medication maker Insys Therapeutics Inc.'s Chapter 11 plan, saying the releases need the OK of shareholders and others.
December 02, 2019
Insys Files New Ch. 11 Plan Reflecting Deal With DOJ, States

Bankrupt opioid maker Insys Therapeutics Inc. filed an amended Chapter 11 plan Friday in Delaware that reflects the negotiated agreement reached among the debtor and its creditors, including the U.S. Department of Justice and numerous states, municipalities and Native American tribes.
November 21, 2019
Insys Reaches Creditor Deal For Tiered Ch. 11 Recoveries

Bankrupt opioid maker Insys Therapeutics Inc. told a Delaware bankruptcy judge Thursday that negotiations over the past week had resulted in a deal with its creditors on a Chapter 11 plan that will provide tiered recoveries to claimants in different classes.
November 14, 2019
Insys Alters Ch. 11 Plan After Claimant Deal Falls Through

Bankrupt drugmaker Insys Therapeutics told a Delaware judge Thursday that it would be moving forward with an amended Chapter 11 plan of liquidation after it failed to reach consensus with all creditor parties on how the estate's assets should be distributed.

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