Fabius- I think the class action suit should go after IPCI's only asset. The approved ANDAs and pending ANDAs. The reason I say this is in bankruptcy IPCI has two major debts:
1. Odidi Loans
2. Class action suit that was recently settled but still pending approval. In all likelihood insurance covers most of this, but some of it could fall onto IPCI.
IPCI has no money, no real estate or anything of value. They have some used lab and manufacturing equipment but that is not worth much. Thus, I say go after the ANDAs. Why? They are the only thing of worth. Also to prevent Odidi from running off to China and being able to manufacture and profit all by himself.
When you think about it, it does sound like a scheme. He funded ANDA approvals through a pump and dump scheme with the likes of Wainwright, etc. He never commercialized them and made them appear worthless. He never bought a single share of IPCI with actual money. But he loaned the company money at 12% interest. This guy is no fool. He knows that all debt gets 100% paid out before a single penny of equity in bankruptcy. So the debtors will take all IPCI assets... So that pretty much leaves Odidi with whatever he wants.
News 
Market Data 
Discover 
