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Unilife Bankruptcy Objection Filed

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The U.S. Trustee assigned to the Unilife case filed with the U.S. Bankruptcy Court an objection to the Company’s Disclosure Statement.

The Trustee asserts, “A Confirmation Hearing Notice provides the most fundamental due process – notice and an opportunity to be heard – to all parties in interest. Where, as in this case, the proposed plan includes an injunction that purports to bind equity security holders, the Confirmation Hearing Notice is all the more critical and is a sine qua non of an enforceable plan injunction. Due process cannot be sacrificed to reduce the expenses of administering a Chapter 11 case.”

In addition, “If this case is to continue under Chapter 11, the Confirmation Hearing Notice must be provided to all parties in interest, including equity security holders. Wherefore, the United States Trustee respectfully requests that the Court deny the Motion insofar as it seeks to excuse service of the Confirmation Hearing Notice on equity security holders, and grant such other relief as is appropriate.”

Read more Unilife bankruptcy news.

The post Unilife Bankruptcy Objection Filed appeared first on Daily Bankrupt Company Updates | Bankrupt Company News.


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