Bankruptcy Law News

Reva Medical Files for Chapter 11 Bankruptcy Protection

Jan. 14, 2020, 5:19 PM

REVA Medical Inc., a medical device manufacturer, files for Chapter 11 protection from creditors in Delaware.

  • San Diego, Calif.-based REVA has debt of $104.5 million and assets of $5.9 million, according to its bankruptcy petition
  • Company was negatively impacted by guidelines published in 2018 by the European Society of Cardiology related to devices the company produces, according to a December 8-K filing
    • REVA develops and commercializes medical devices for heart conditions, and currently sells products in eight European countries, according to the 8-K
  • Elliott Management Corp.holds the largest unsecured claim, with over $44 million of convertible notes, according...

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