KaloBios Pharmaceuticals, Inc. Bankruptcy New Filing Alert: Order Regarding The Plan Of Reorganization

On March 23, 2016, an order regarding the plan of reorganization was filed in the bankruptcy case of KaloBios Pharmaceuticals, Inc. and its affiliates.

The filing was assigned docket number 293 and is described on the court’s official docket as follows:

Order: (I) Approving Amended Letter of Intent and Amended Term Sheet, Each Dated March 18, 2016, With Nomis Bay Ltd and Funds Managed by Black Horse Capital LL, Black Horse Capital Master Fund Ltd. and Cheval Holdings, Ltd.; (II) Approving Bidding Procedures Governing Submission and Consideration of Competing and Supplemental Plan Sponsorship Proposals; (III) Approving Breakup Fee; (IV) Scheduling and Authorizing the Debtor to Conduct an Auction Pursuant to Such Procedures; and (V) Granting Related Relief (related document(s)[238], [273]) Order Signed on 3/23/2016. (LJJ)

KaloBios Pharmaceuticals, Inc. filed for bankruptcy protection, or had an involuntary bankruptcy petition filed against it, on December 29, 2015. The bankruptcy case is pending before the United States Bankruptcy Court for the District of Delaware. The case number for the lead bankruptcy case is 15-12628. The bankruptcy case is currently assigned to United States Bankruptcy Judge Laurie Selber Silverstein. The law firm of Morris, Nichols, Arsht & Tunnell LLP is acting as lead bankruptcy counsel to KaloBios Pharmaceuticals, Inc. in the bankruptcy case.


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