Twinlab chapter 11 motions
This article was originally published in The Tan Sheet
Executive Summary
Approval of "first-day motions" by the U.S. Bankruptcy Court for southern N.Y. will allow Twinlab to "preserve its normal business operations...to the maximum extent possible," company announces Sept. 10. Court also approves motion for Twinlab to access up to $8.8 mil. of a $35 mil. debtor-in-possession facility financed by CIT Group. Funds will assist company in covering costs of operations during chapter 11 process. Twinlab announced plans to file for chapter 11 and sell its assets to IdeaSphere Sept. 4 (1"The Tan Sheet" Sept. 8, 2003, p. 14)...
You may also be interested in...
Twinlab Sells Assets To IdeaSphere, Files For Protection From Creditors
IdeaSphere will acquire all assets of dietary supplement manufacturer Twinlab for $65 mil. following the company's filing for Chapter 11 bankruptcy
Investors Go Berserk For Viking, Putting It Top Of Q1 Winners
The top 10 biggest share price winners and losers in Q1 from Evaluate show the investor frenzy for obesity drugs continues, while companies with governance doubts see shareholders retreat.
EU Consults On What Constitutes Personal & Commercially Confidential Data In Marketing Applications
Based on their experience with dealing with requests for access to documents over the past 12 years, EU regulators have proposed updating their guideline that provides for a harmonized approach to protecting personal data and business secrets in marketing authorization applications.