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

Effective Date

___________
June
10

Governmental Bar Date

5:00 p.m. (ET)
December
12
___________
December
13
3:00 p.m. (ET)
January
4
11:00 a.m. (ET)

Final Hearing on First Day Motions

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

Office of the United States Trustee

U.S. Federal Office Building
201 Varick Street, Suite 1006
New York, NY   10014
https://www.justice.gov/ust-regions-r02
Phone: 212.510.0500


United States Bankruptcy Court

Southern District of New York
One Bowling Green
New York, NY   10004-1408
http://www.nysb.uscourts.gov/
Phone: 212-668-2870


Debtors

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