Innovation Pharmaceuticals Inc (IPIX)

[Orion Nebula]

In addition to BKs post, recall that Cellceutix was chosen to be a Stalking Horse. That potentially puts them in a very favorable position vis a vis other bidders. It is not just a regular auction. In adept hands a Stalking Horse can position themselves in such away as to make it very hard for other bidders. The key is to walk the fine line between the provisions the Stalking Horse negotiates and what the bankruptcy court will accept. See the following attachment which outlines some of those advantages.

I have no doubt that Leo, with help from the legal expertise available him did an excellent job in this regard.


http://www.jonesday.com/newsknowledge/publicationdetail.aspx?publication=2177