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Bankruptcy in Medical News

Biopure Files Voluntary Petition for Relief Under Chapter 11 of the United States Bankruptcy Code

CAMBRIDGE, Mass., July 16 /PRNewswire-FirstCall/ -- Biopure Corporation (Nasdaq: BPUR ) announced today that it has filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Massachusetts. Biopure...

Isolagen, Inc. Announces Filing of Voluntary Petition Under Chapter 11 of the Bankruptcy Code

Isolagen, Inc. Receives Delisting Notice from NYSE Amex EXTON, Pa., June 16 /PRNewswire-FirstCall/ -- Isolagen(TM), Inc. (NYSE Amex: ILE ) today announced that on June 15, 2009, the Company and Isolagen Technologies, Inc., the Company's wholly owned subsidiary, each filed a voluntary petiti...

Isolagen Receives Bridge Financing to Allow it to Seek Debtor-in-Possession Financing in Connection With a Possible Filing Under Chapter 11 of the United States Bankruptcy Code

Isolagen Common Stock to be halted from trading on the NYSE Amex EXTON, Pa., May 6 /PRNewswire-FirstCall/ -- Isolagen(TM), Inc. (NYSE Amex: ILE ) today announced that the Company has entered into secured promissory notes and security agreements (the "Notes") with eight lenders pursuant to w...

Scantek Medical Files for Chapter 11 Voluntary Bankruptcy and Receives Orders for the Sale of BreastCare(TM)

CEDAR KNOLLS, N.J., Dec. 30 /PRNewswire-FirstCall/ -- Scantek Medical, Inc. (Pink Sheets: SKML)("Scantek") announced today that on December 24, 2008 it filed a voluntary petition in the United States Bankruptcy Court pursuant to Chapter 11 of Title 11 of the United States Code. Scantek al...

Bally Total Fitness Files for Chapter 11 Bankruptcy Protection

CHICAGO, Dec. 3 /PRNewswire/ -- Bally Total Fitness Corporation ("Bally") today announced that it has filed for voluntary chapter 11 bankruptcy protection. The chapter 11 petition was filed today in the U.S. Bankruptcy Court for the Southern District of New York. Bally intends to use the chapter...

Leiner Health Products Submits Proposed Agreement with Department of Justice to U.S. Bankruptcy Court for Approval

Resolves Allegations of Compliance Matters at Defunct Facility CARSON, Calif., May 9 /PRNewswire/ -- Leiner Health Products Inc. ("Leiner" or "the Company") announced today that it has submitted a proposed agreement with the United States Department of Justice to the U.S. Bankruptcy Court...

Statement of IUE-CWA President Jim Clark on GM's Emergence From Bankruptcy

DAYTON, Ohio, July 10 /PRNewswire-USNewswire/ -- The following is a statement by IUE-CWA President Jim Clark on GM's emergence from bankruptcy: "It is a sad day in America when a formerly bluechip company joins hands with the government to rob those who built the company of the health care t...

Taxpayer Group Offers Blueprint for Beating Medicare's Bankruptcy

From Renal Disease to Recovery Audits, Systemic Fiscal Reforms Needed ALEXANDRIA, Va., April 24 /PRNewswire-USNewswire/ -- As federal lawmakers appeared headed toward a pre-Memorial Day showdown over key changes to Medicare benefit and reimbursement policies, the 362,000-member National Ta...

Sunrise Reports Financial Results for Second-Quarter 2009

...nt venture and construction agreements; the risk that a group of the Company's creditors, acting together, could force the Company into an involuntary bankruptcy proceeding; the Company's ability to sell its Germany communities and settle the related debt within a reasonable time period, and to negotiate a com...

NHP Reports 2009 Second Quarter Results

...erage levels, (iv) provide for transfer of ownership of Hearthstone to us in the event of certain major events of default and (v) put in place certain bankruptcy protections and enhanced oversight rights for us. SECOND QUARTER 2009 FINANCING TRANSACTIONS On April 1, 2009, we retired $30.0 millio...
Bankruptcy in Medical Technology

Spherics, Inc. Announces Reduced Cognitive Impairment of Novel Extended Release Topiramate (SRx-502) as Compared to Topamax(R)

... primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of credito...nt for a corporation. He has been involved in a number of loan workouts and bankruptcy cases for thirty-four (34) years. His most recent Assignment for the Benefi...

Spherics, Inc. Offers Extended Release Formulation for Sustained and Stable Levodopa Levels

... primarily in the area of management consulting for distressed enterprises, bankruptcy accounting and related matters, such as assignee for the benefit of credito...nt for a corporation. He has been involved in a number of loan workouts and bankruptcy cases for thirty-four (34) years. His most recent Assignment for the Benefi...

Genasense(R) Chemotherapy Program Yields High Response Rate in Patients with Stage 4 Melanoma

...w projections, the Company's ability to obtain sufficient financing to maintain the Company's planned operations, or the Company's risk of bankruptcy if it is unsuccessful in obtaining such financing; -- the adequacy of the Company's patents and proprietary rights; -- the impact of litigation that...

Long-Term Followup in Phase 3 CLL Trial Shows Genasense(R) is Associated with Significantly Increased Survival in All Responders

...w projections, the Company's ability to obtain sufficient financing to maintain the Company's planned operations, or the Company's risk of bankruptcy if it is unsuccessful in obtaining such financing; -- the adequacy of the Company's patents and proprietary rights; -- the impact of litigation that...
Bankruptcy in Medical Dictionary

Pathological Gambling

...ng ... ... of increased pathological and problem gambling is currently driving ... To the extent that pathological gambling contributes to bankruptcy and bad debts, ... Kaufman Adolescent and Adult Intelligence Test, Kaufman Assessment Battery for Children, Kaufman Short Neurological ... Pathol...
Bankruptcy in Biological News

Solidus Networks, Inc. Seats New Board of Directors

...ns continue to operate under the protection of the bankruptcy court, and are being marketed for acquisition. Core subsidiaries not part of the bankruptcy filing include Loyalty Acquisition (dba Capture Re... will present the highest value result through the bankruptcy process. The Company continues to maintain its pat...
Bankruptcy in Biological Technology

Isolagen, Inc. Announces Receipt of Interim Order from Bankruptcy Court Approving DIP Motion

EXTON, Pa., June 19 /PRNewswire/ -- Isolagen(TM), Inc. announced on June 16, 2009, that the Company and Isolagen Technologies, Inc., the Company's wholly owned subsidiary, each filed a voluntary petition for reorganization under chapter 11 of the United States Bankruptcy Code in the United States ...

Vermillion, Inc. Files a Voluntary Petition for Reorganization Relief Under Chapter 11 of the United States Bankruptcy Code

FREMONT, Calif. , April 2 /PRNewswire-FirstCall/ -- Vermillion, Inc. (OTC Bulletin Board: VRML) today announced that it has filed a voluntary petition for reorganization relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware...

Viragen International's Subsidiary, ViraNative AB, Files to Seek Bankruptcy Protection in Sweden

PLANTATION, Fla., Sept. 14 /PRNewswire-FirstCall/ -- Viragen, Inc. (OTC Bulletin Board: VRAI) and its majority-owned subsidiary, Viragen International, Inc. (OTC Bulletin Board: VRGE), today jointly announced that Viragen International's wholly-owned subsidiary, ViraNative AB, located in Umea,...

SGI receives court approval for bankruptcy motions

Chippewa Falls, Wis. - Silicon Graphics, Inc . has received interim approval from a New York bankruptcy court to use its $70 million financing facility to fund day-to-day business operations during a reorganization process. The approval came during a hearing in which the U.S. Bankruptcy Court...

SCOLR Pharma, Inc. Reports Second Quarter 2009 Financial Results

...successful generating additional revenues or raising additional funds, we will have to substantially reduce our operations to preserve capital or seek bankruptcy protection or otherwise wind up our business. In addition to our efforts to enter into alliances and licensing agreements, we plan to continue...

ADVENTRX Pharmaceuticals Announces Financing

...ient additional capital on a timely basis to continue as a going concern; the risk that ADVENTRX will seek protection under the provisions of the U.S. bankruptcy Code; the risk that, if ADVENTRX liquidates its assets, the capital available for distribution to stockholders, if any, will be insignificant; difficu...

Biotech Hot in July Driven by Positive Drug Data and Acquisitions

...ojects in the refrigerator. Recent announcements included: - Celera cut 80 employees or 13 percent of its workforce - Epix Pharmaceuticals entered bankruptcy and is winding down its operations. - YTD the Burrill Biotech Select Index is up 4 percent July Biotech Indices Index ...

ADVENTRX Pharmaceuticals Announces Plans for Remainder of 2009

...ient additional capital on a timely basis to continue as a going concern; the risk that ADVENTRX will seek protection under the provisions of the U.S. bankruptcy Code; the risk that ADVENTRX will reassess the results of the ANX-530 bioequivalence study and determine to conduct additional bioequivalence studies ...

ADVENTRX Pharmaceuticals Announces Closing of Financing

... on June 8, 2009 will prevent ADVENTRX from orderly winding-up its operations and require ADVENTRX to seek protection under the provisions of the U.S. bankruptcy Code; the potential for regulatory authorities to require additional preclinical work and/or clinical activities to support regulatory filings, includ...

ADVENTRX Pharmaceuticals Announces Financing

...is press release will prevent ADVENTRX from orderly winding-up its operations and require ADVENTRX to seek protection under the provisions of the U.S. bankruptcy Code; the potential for regulatory authorities to require additional preclinical work and/or clinical activities to support regulatory filings, includ...
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