liquidation & litigation

CRS Capstone Partners Provides Oscient Pharmaceuticals with Liquidating Trust & Litigation Support

June 2014

Industry:  Pharmaceutical; Biotech

Challenge:  A highly leveraged company in the late-stage drug development space, Oscient eventually filed for Chapter 11 in 2009 in order to sell off certain formulary drugs.  After a relatively short Chapter 11, a Liquidating Trust was formed to pursue avoidance actions and pay creditors.  

Solution:  Certain CRS professionals working at a previous firm advised  the Liquidating Trustee, managed the  execution of the Plan through the Trust, and prosecuted hundreds of claim objections and avoidance actions.

Results:  Through years of negotiation, settlements, and litigation, the Trust returned a notable dividend to unsecured creditors.

 

 

Lead Professional

Brian Davies

Managing Director