There have been several developments in the Egenix, Inc. (“Egenix” or “Debtor”) bankruptcy case pending in the District of Delaware. To review the initial article posted about this bankruptcy action on December 28, 2014, click here.
Since the Debtor’s bankruptcy filing, Egenix has filed various motions, including a Motion (I) to Authorize Continued Use of Existing Bank Account and Business Forms, and (II) Waiving Requirements of 11 U.S.C. Section 345 on an Interim Basis. In addition, the Debtor filed its creditor matrix and a list of its top 20 creditors, along with a motion to appoint Donlin, Recano and Company as claims agent to the Debtor.
Further, Egenix filed the Declaration of William T. Nolan in Support of Chapter 11 Petitions and First Day Pleadings (“Nolan Declaration”). According to the Nolan Declaration, the Debtor seeks to reorganize its debt in bankruptcy. As stated in the Nolan Declaration, “[t]he Debtor’s ultimate goal in this Chapter 11 Case is to create a sustainable capital structure for the future that maximizes the value of the Debtor’s estate for the benefit of all of the Debtor’s constituents.” (Nolan Decl., at 11).
The next hearing has been scheduled for Tuesday, January 6, 2015, at 1:30 p.m., at which time Egenix will present its pending motions to the Court for consideration.
Carl D. Neff is a bankruptcy attorney with the law firm of Fox Rothschild LLP. Carl is admitted in Delaware and regularly practices before the United States Bankruptcy Court for the District of Delaware. You can reach Carl at (302) 622-4272 or at email@example.com.