Melinta Therapeutics U.S. Trustee wants more details on case matters

By Caroline Salls

Pittsburgh, Feb. 18 – The U.S. Trustee overseeing Melinta Therapeutics, Inc.’s Chapter 11 case objected Friday to the company’s motion for approval of the disclosure statement for its plan of reorganization, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

Region 3 U.S. Trustee Andrew R. Vara said in his objection that, as of Friday, the Melinta debtors had not filed an amended form of order, disclosure statement or plan incorporating the provisions of a global settlement term sheet, the revised bidding procedures approved by the court or the revised terms of the final cash collateral order.

If or when those documents are filed, Vara said he reserved the right to raise further objections to their specific terms.

In addition, the U.S. Trustee said the disclosure statement does not provide adequate information on how the Melinta debtors will be substantively consolidated under the plan or how creditors will be affected.

Melinta is an antibiotics company based in New Haven, Conn. The company filed bankruptcy on Dec. 27 under Chapter 11 case number 19-12748.

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