November 5, 2019 / 11:14 PM / 15 days ago

IN BRIEF: Unsecured creditors want Insys bankruptcy to remain in Ch. 11

Unsecured creditors of Insys Therapeutics Inc on Monday rallied behind the opioids maker’s bid to stop its bankruptcy from being converted to a Chapter 7 liquidation as claimants in multidistrict litigation against the company have urged.

Lawyers for the creditors’ committee with Bayard and Akin Gump Strauss Hauer & Feld said in a filing in U.S. Bankruptcy Court in Delaware that converting Insys’ Chapter 11 case would create a “morass” of fighting between creditors that could take a decade to resolve and dissipate the company’s estate.

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