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A Third Circuit panel said Thursday that Mallinckrodt PLC's Chapter 11 bankruptcy could sever its obligation to pay Sanofi-Aventis US LLC royalties on sales of an autoimmune disease drug, finding that Sanofi's contract to sell Mallinckrodt the rights to the drug created a claim ripe to be extinguished.
Vyera Pharmaceuticals' liquidating trustee told a Delaware bankruptcy judge he wants to claw back almost $10 million paid out to a drug ingredient supplier, allegedly to allow convicted fraudster Martin Shkreli to ratchet up the price of life-saving drug Daraprim while restricting the ingredient supply for generics.
The owner and ex-shareholders of a bankrupt Connecticut manufacturer tied up in asbestos liability and connected insurance claims say the company's Chapter 7 trustee cannot claw back $59.7 million in cash transfers from a holding company to those shareholders because they occurred more than a decade ago.
Cryptocurrency custodial business Prime Core Technologies Inc. told a Delaware bankruptcy judge it has reached a proposed settlement with Audius Inc. to establish 11 million of Audius' cryptocurrency tokens as Prime Core's property while handing over others in exchange for resolving disputed ownership of the coins with Audius.
A New York bankruptcy judge has signed off on a real estate deal that will net the Roman Catholic Diocese of Rockville Centre $16 million for its sex abuse survivors trust and lay to rest creditors' allegations that before it filed for Chapter 11 protection, the diocese fraudulently transferred more than 200 acres of valuable waterfront land to an affiliated seminary.