Rock Creek Pharmaceuticals Inc. (fka RCPIQ)

[LutherTiggs]

We always heard that the IP around RCPI was "worth so much more"...I guess ultimately, we find out if it was worth more than 21M (or whatever the overall creditor payments due is). I do believe that Mullan/Jenkins were likely working with creditors in earnest trying to come up with something that would allow them to go forward. Maybe, just maybe, the creditors were looking for too much additional concession to make this a viable option (in the eyes of the creditors in one way...in the eyes of Mullan/Jenkins in the other way). Maybe Mullan/Jenkins decided to call their bluff and vs. versa...my guess is that the creditors thought the IP was worth enough to get more via bankruptcy. Whoever ends up buying the IP may also think it's valuable to get a "fresh start" without some of the other historic baggage surrounding the company. It seems to me that some past people, whether J Williams and others were still trying to collect on past negotiations to exit "quietly".

My guess is still that IP will be sold cheaper than it should have...and I doubt it will be done in a total vacuum from the creditors knowing what is going on...