Elite Microcap

[Madclown]

MBRKQ: Here is a case summary written up on MiddleBrook Pharmaceuticals last month for those interested. This is a Chapter 11 liquidation that is expected to pay (in cash) all allowed claims, in full, and also provide for an equity recovery. Since the write-up, the sale of substantially all assets to Victory Pharma has been court approved. The distribution projected in the summary will have to be revised downward in the event of a protracted litigation battle over the PAR Pharma claim that is in excess of $11 million. It may also have to be revised in the event that there are larger administrative claims than originally contemplated due to the presence of more legal firms.

In any event, the statutory equity committee recently stated in a court filing that they expected the distribution to equity to be in excess of $10 million and that based on information and belief their expectation is that the PAR claim will be disallowed in its entirety.

http://www.scribd.com/doc/33888674/MBRKQ-Case-Summary-Updated-07-03-10