Tricida Inc. won approval to liquidate in bankruptcy after a judge required the chronic kidney disease drug developer to revise provisions shielding third parties from legal liability.
Under the modified plan, confirmed Tuesday by Judge John T. Dorsey of the US Bankruptcy Court for the District of Delaware, general unsecured creditors will receive additional time to opt out of a liability release being provided to drug manufacturer and supplier Patheon Austria GmbH & Co. Shareholders, who are being wiped out by the wind-down plan, won’t be bound to release any potential claims against third parties.
The amended Chapter 11 plan ...
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