Synergy Pharmaceuticals Inc.

Case No. 18-14010


Case Background

On December 12, 2018, Synergy Pharmaceuticals Inc. and one affiliated debtor (collectively, the "Debtors") each filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York.  The cases are pending before the Honorable James L. Garrity Jr., and the Debtors are jointly administered under Case No. 18-14010.

Official Committee of Unsecured Creditors ("UCC")

On December 20, 2018, the Office of the United States Trustee appointed the Official Committee of Unsecured Creditors (the “Committee”).  The members of the Committee are:  (i) Wilmington Savings Fund Society, FSB, in its capacity as successor indenture trustee; (ii) 1992 MSF International Ltd.; (iii) Healix Global, Inc.; (iv) McKesson Corporation and certain corporate affiliates; and (v) Sudler & Hennessy, LLC.
 
The Committee has selected Latham & Watkins LLP as its counsel, Alvarez & Marsal North America, LLC as its restructuring advisor, and Jefferies LLC as its investment banker.  For unsecured creditor questions or inquiries, please reach out to synergyUCCinquiries-lwteam@lw.com or (312) 876-7700. 
 
The bar date for general claims is February 8, 2019 at 5:00 p.m. (prevailing Eastern Time). The bar date for governmental claims is June 10, 2019 at 5:00 p.m. (prevailing Eastern Time). For additional information on filing proofs of claim, please click the Submit a Claim link above.

UCC Updates 

UCC January Update

Important Information & Dates

341 Meeting of Creditors

Please take notice that a meeting of creditors scheduled at the Office of the United States Trustee on January 17, 2019 has been adjourned to a date and time to be determined and scheduled by the U.S. Trustee. Please click below to view a copy of the notice:

Notice of Adjournment Sine Die of Meeting of Creditors Pursuant to Section 341 of the Bankruptcy Code

Deadline to File Claims

The Bankruptcy Court has set the following deadlines for filing proofs of claim against the Debtors:

  • General Claims Bar Date: February 8, 2019 at 5:00 p.m. (Eastern Time)
  • Governmental Claims Bar Date: June 10, 2019 at 5:00 p.m. (Eastern Time)

Click on "Submit a Claim" above to download a proof of claim form and for more information regarding filing a claim against the Debtors.

Plan & Disclosure Statement

On December 21, 2018, the Debtors filed their Plan of Reorganization and the Disclosure Statement related thereto. On March 13, 2019, the Bankruptcy Court entered an order approving the Disclosure Statement. On April 25, 2019, the Bankruptcy Court entered an order approving the Plan. On May 1, 2019, the Effective Date of the Plan occurred, and the Plan was consummated.  Please click below to view and download the Plan & Disclosure Statement:

Plan & Disclosure Statement

Hearing on First Day Motions

A hearing on the Debtors' First Day Motions was held on December 13, 2018 at 3:00 p.m. (ET) before the Honorable James L. Garrity Jr., United States Bankruptcy Court for the Southern District of New York, One Bowling Green, New York, NY 10004.  A final hearing on certain of the First Day Motions was held on January 4, 2019 at 11:00 a.m. (ET). Please click below to view and download the First Day Motions and the First Day Orders:

First Day Motions

First Day Orders


Dates

May 1 2019 Effective Date ___________ Statement Noti... Add to Calendar
+ SHOW ALL DATES
December 12 2018 __
December 13 2018 3:00 p.m. (ET)
December 21 2018 11:00 a.m. (ET)
January 4 2019 11:00 a.m. (ET)
Final Hearing on First Day Motions First Day Orders Add to Calendar
January 4 2019 11:00 a.m. (ET)
January 17 2019 11:00 a.m. (ET)
February 8 2019 5:00 p.m. (ET)
February 21 2019 11:00 a.m. (ET)
February 21 2019 11:00 a.m. (ET)
February 22 2019 __
March 1 2019 11:00 a.m. (ET)
March 12 2019 11:00 a.m. (ET)
March 20 2019 11:00 a.m. (ET)
April 23 2019 11:00 a.m. (ET)
May 1 2019 __
May 23 2019 11:00 a.m. (ET)
June 10 2019 5:00 p.m. (ET)
June 26 2019 11:00 a.m. (ET)
September 18 2019 11:00 a.m. (ET)

Parties

Debtors' Counsel

  • Skadden, Arps, Slate, Meagher & Flom LLP (Chicago)

    155 North Wacker Drive
    Chicago, IL   60606-1720
    https://www.skadden.com
    Phone: 312.407.0700
    Fax: 312.407.0411

    Ron E. Meisler
    Christopher M. Dressel
    Jennifer Madden

  • Skadden, Arps, Slate, Meagher & Flom LLP (New York)

    Four Times Square
    New York, NY   10036-6522
    https://www.skadden.com/
    Phone: 212.735.3000
    Fax: 212.735.2000

    Lisa Laukitis
    Christine A. Okike

United States Trustee and Court Information

Debtors

Case Number Debtor Name Petition Date
Case Number 18-14010 Debtor Name Synergy Pharmaceuticals Inc. Petition Date December 12, 2018
Case Number 18-14011 Debtor Name Synergy Advanced Pharmaceuticals Inc. Petition Date December 12, 2018