Q: I'm wondering how to get an injunction to stop a bankruptcy recently filed in Delaware by Vivus, Inc.
The creditor (IEH) with the collusion of management is grossly undervaluing assets (3 separate FDA approved drugs and one pipeline drug) more properly valued at $500M. Management was to have refinanced the $170M debt already but due to gross negligence or complicity with creditor failed to do so. Management now siding with creditor and trying to force through BK as quickly as possible. Shares to be delisted on July 17. Creditor offering a ridiculous $5M payout to shareholders + up to $2 CVR in opaque language and provided no shareholder contests this scam or they will get nothing. Please help.
Firstly, a forum like this is an inadequate place to answer a complex question such as yours.
If you--and other stockholders--are aggrieved then you need to hire your own lawyer to appear on your behalf to address the issues. There is no way to enjoin the progress of a bankruptcy--only to participate--which is what it is designed to do
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