Navigation Links
ActivBiotics Assignee Issues First Distribution of Cash to Creditors
Date:6/19/2008

WELLESLEY HILLS, Mass., June 19 /PRNewswire/ -- Joseph F. Finn, Jr., C.P.A. ("Finn") the Assignee for the Benefit of Creditors of ActivBiotics, Inc. ("ActivBiotics") announced today the first distribution of cash to the creditors of ActivBiotics. The distribution signifies the substantial completion of the asset liquidation process and the allowance of creditors' claims. The assignment, which began the liquidation process, was a transfer of all the assets of ActivBiotics to Finn on December 7, 2007, under a common law procedure. The process was complex because ActivBiotics was a biotech start-up company with sophisticated intellectual property and fixed assets.

Finn pointed out that the assignment process allowed him to move quickly and that the distribution of cash to creditors six and a half months after the process began highlights one of the major benefits of the assignment legal process for liquidating defunct enterprises.

Finn praised the law firm he retained to assist him, Bingham McCutchen LLP, to include, but not be limited to, Edwin Smith, Meerie Joung and Jennifer Cleary.

About Joseph F. Finn, Jr., C.P.A.

Joseph F. Finn, Jr. is the founding partner of the firm Finn, Warnke & Gayton, Certified Public Accountants of Wellesley Hills, Massachusetts. He works primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of creditors and liquidating agent for a corporation. He has been involved in a number of loan workouts and bankruptcy cases for thirty-four (34) years.


'/>"/>
SOURCE ActivBiotics, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Page: 1

Related biology technology :

1. ActivBiotics Intellectual Property Assets, Including Drug Product Candidates, Sold for $3.5 Million
2. ActivBiotics Receives FDA Orphan Drug Designation for Superoxide Dismutase Mimetic, M40403, in Oral Mucositis of Cancer
3. ActivBiotics Set to Sell Proprietary Assets, Including Drug Product Candidates, on March 14, 2008
4. ActivBiotics Completes Sale of Fixed Assets; Expands Due Diligence Initiative for the Sale of Intellectual Property, Including Drug Product Candidates
5. ActivBiotics Sells Proprietary Assets, Including Drug Product Candidates
6. Neuftec Issues Patent Infringement Proceedings in the UK Against Oxonica
7. Crystal Research Associates, LLC Issues Executive Informational Overview(R) (EIO(R)) on Arana Therapeutics Ltd.
8. Bristol-Myers Squibb Issues $1.6 Billion of Senior Notes
9. SectorWatch.biz Issues MarketStats on KBLB, DGX, LH, BRLI, and ABT
10. VaxGen Issues Rebuttal to MedCap Letter
11. pH Balanced RepHresh Vaginal Gel(R) now Available to Women in Canada Attacking Tough, Embarrassing Feminine Issues
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/23/2016)... -- Zimmer Biomet Holdings, Inc. (NYSE and SIX: ZBH), a ... of Directors has approved the payment of a quarterly cash ... The cash dividend of $0.24 per share will ... of record as of the close of business on June ... of the Board of Directors and may be adjusted as ...
(Date:5/23/2016)... Alto, CA (PRWEB) , ... May 23, 2016 ... ... and public interest organization focused on molecular nanotechnology, announced the winners for the ... of pioneer physicist Richard Feynman, are given in two categories, one for experiment ...
(Date:5/20/2016)... ... May 20, 2016 , ... Korean researchers say Manumycin A triggers ... a new way to treat the disease. Surviving Mesothelioma has just posted an article ... from several Korean institutions based their mesothelioma study on the fact the Manumycin A, ...
(Date:5/19/2016)... There is no saying when ... relentless pressures in pricing and lack in consumer confidence. ... though - numerous opportunities are up for grabs but ... presents four names in this sector: Portola Pharmaceuticals Inc. ... VTAE ), Anthera Pharmaceuticals Inc. (NASDAQ: ...
Breaking Biology Technology:
(Date:3/31/2016)... R.I. , March 31, 2016  Genomics firm ... of founding CEO, Barrett Bready , M.D., who ... members of the original technical leadership team, including Chief ... President of Product Development, Steve Nurnberg and Vice President ... returned to the company. Dr. Bready served ...
(Date:3/21/2016)... 22, 2016 Unique technology ... for superior security   Xura, ... of secure digital communications services, today announced it is ... offer enterprise customers, particularly those in the Financial Services ... voice authentication within a mobile app, alongside, and in ...
(Date:3/14/2016)... , March 14, 2016 NXTD ) ... mobile commerce market, announces the airing of a new series ... the week of March 21 st .  The commercials will ... its popular Squawk on the Street show. --> ... the growing mobile commerce market, announces the airing of a ...
Breaking Biology News(10 mins):