New Delaware Chapter 11 Filing – Avadel Specialty Pharmaceuticals, LLC
Avadel Specialty Pharmaceuticals, LLC, has filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 19-10248). Headquartered in St. Louis, Missouri, ASP is a distributor, marketer and retailer of pharmaceutical products. According to the First Day Declaration, ASP intends to sell substantially all of its assets under section 363 of the Bankruptcy Code. ASP has filed a motion for approval of $2.7 million in unsecured debtor-in-possession financing to be provided by its parent, Avadel US Holdings. Epiq Restructuring is the proposed claims and noticing agent. The case has been assigned to the Honorable Chief Judge Christopher S. Sontchi.
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