Phoenix serves as financial advisor and liquidates substantially all of the assets of a pharmaceutical delivery firm for the benefit of its creditors.
The Company was a $37 million privately held Pharmaceutical Delivery Firm headquartered in Pennsylvania.
The Company had operated unprofitably for many years, and ultimately became insolvent and was forced to shutter its operations.
Phoenix was engaged to manage the liquidation of the Company’s assets. As a result of a detailed inspection process and frequent communications with creditors, Phoenix was able to negotiate a settlement of $21 million in liabilities for less than 43% of their face amount.
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