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Tintri – Cigna Entities Objects to Sale Motion

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July 27, 2018 – Cigna Health and Life Insurance Company, Life Insurance Company of North America, Cigna Behavioral Health, and Cigna Life Insurance Company of New York, the “Cigna Entities” filed with the U.S. Bankruptcy Court an objection to Tintri’s Sale Motion [Docket No. 71]. The Cigna entities assert [Docket No. 102], “Cigna objects to the Proposed Sale Procedures because, inter alia, they fail to provide meaningful notice to Cigna relating to any proposed assumption and assignment of the Cigna Contracts…. Further, the Proposed Sale Procedures do not address contract designation for any Successful Bidder other than the Stalking Horse, and fail to address the timing of notices and objections to changes to the list of Assumed Executory Contracts. Because the Cigna Contracts provide employee benefits that should not be discontinued without substantial notice, the Proposed Sale Procedures should be altered to provide that, absent consent from Cigna, unequivocal and irrevocable notice of proposed assumption and assignment of any Cigna Contract must be provided to Cigna and its undersigned counsel at least 7 days prior to any hearing thereon….Cigna objects to any proposed disposition of the Cigna Contracts that would require Cigna to simultaneously provide administrative, insurance or other services under the Cigna Contracts to eligible employees of both Debtor and any buyer. Thus, to the extent that any buyer proposes to maintain employee benefits under the Cigna Contracts for employees of both the Debtor and the buyer, Cigna objects.”

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