 |
Joele Frank shop is handling today’s bankruptcy filing of Insys Therapeutics, which agreed last month to pay a $225M federal settlement connected to the sales of its Subsys opioid drug.
The Chapter 11 filing is to facilitate the sale of assets and address legal liabilities, says the company.
Following a review of strategic alternatives, CEO Andrew Long determined that court-supervised sales of assets is the best route for a “fair and transparent” process.
The Wall Street Journal reports the bankruptcy petition acknowledges that the federal government won’t be paid in full. Insys will petition the judge to cap the federal proceeds from the asset sale at $190M.
Joele Frank, Wilkinson Brimmer Katcher’s Michael Freitag, Matthew Gross and Andrew Squire are working the account.
They are assisted by Jackie Marcus and Chris Hodges from Alpha IR Group.
Longacre Square Partners represents Ancora Holdings as it urges the board of Big Yellow Group to conduct a strategic review of the UK’s No. 1 self-storage company.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a commitment from Koch Equity Development and the Getty family to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
