Medical device manufacturer REVA Medical Inc. filed a prepackaged bankruptcy, proposing to cut $90 million in debt while turning over its assets to Goldman Sachs Group Inc., Elliott Management Corp. and other creditors. Under the prepackaged plan, filed in the U.S. Bankruptcy Court in Wilmington, Del., REVA’s creditors would receive equity stakes in the reorganized company and in a new limited liability company “created to continue the development and commercialization of REVA’s bioresorbable polymer technologies.”
Read the full article: Goldman-Backed Medical Device Maker REVA Files for Bankruptcy //
Source: https://www.wsj.com/articles/goldman-backed-medical-device-maker-reva-files-for-bankruptcy-11579043868