Pashman Stein Walder Hayden P.C.’s Bankruptcy Practice Mentioned in Law360
The Bankruptcy, Restructuring & Creditors’ Rights practice at Pashman Stein Walder Hayden P.C. was mentioned in Law360 articles regarding biopharmaceutical company Humanigen Inc.’s filing for Chapter 11 bankruptcy in Delaware after failing to receive emergency authorization for a COVID-19 treatment.
Pashman Stein lawyers Henry J. Jaffe, Joseph C. Barsalona II and Richard C. Solow, represent Taran Therapeutics, Inc. in its role as stalking horse purchaser and debtor-in-possession lender. Taran’s $2 million debtor-in-possession loan to fund Humanigen’s ongoing operations and its Chapter 11 case was approved on an interim basis by the United States Bankruptcy Court for the District of Delaware on January 8. The DIP loan, among other amounts, is being offered as consideration for substantially all of Humanigen’s assets.
The court is scheduled to consider the proposed timeline of the sale on January 19. If Taran is the sucessful bidder, the sale is expected to close on or prior to February 20, 2024.
The case was also mentioned in a Wall Street Journal article, which can be read here.