Bankruptcy News

We've summarized the latest docket activity and news for publicly traded companies currently operating under U.S. Bankruptcy Court protection.

Bankruptcy/Chapter 11

BIND Therapeutics Plan Effective

BIND Therapeutics' Amended Combined Disclosure Statement and Chapter 11 Plan of Liquidation became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on September 26, 2016. As previously reported, "The Combined Plan and Disclosure Statement is the culmination of a successful sale process pursuant to which the Debtors sold substantially all of their assets to Pfizer Inc….On the Effective Date, all Executory Contracts not assumed before the Effective Date, or subject to a pending motion to assume as of the Effective Date, will be deemed rejected….Any assets that are property of the Debtors' Estates on the Effective Date including, without limitation, any Causes of Action, shall transfer to the DNIB Liquidation Trust on the Effective Date. Thereafter, the DNIB Liquidation Trust (at the direction of the Post-confirmation Liquidating Trustee) may use, acquire and dispose of such property free of any restrictions of the Bankruptcy Code, the Bankruptcy Rules or Bankruptcy Court approval." This biotechnology provider filed for Chapter 11 protection on May 1, 2016, listing $50.7 million in pre-petition assets.

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