October 15, 2019 / 9:34 PM / a month ago

Sienna Biopharma, unsecured creditors reach deal on executive bonuses

Sienna Biopharmaceuticals Inc won court approval on Tuesday for a deal with its unsecured creditors in which they will support planned executive bonuses in exchange for a recovery from the bankrupt clinical-stage developer of skin treatments.

Sienna’s lawyer, Ted Dillman of Latham & Watkins, said at a hearing in U.S. Bankruptcy Court in Delaware that the company and its unsecured creditors had reached a “global resolution” in which their committee dropped its objection to the company’s motion seeking an order for an incentive plan.

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