Replies to post #57560 on Genta, Inc (fka GNTAQ)

[nutriman24]

http://www.mtspartners.com/health-partners/transactions


Looks like they had a 2002 transaction with Genta INc
2002 Genta Biotechnology $480 M&A
http://www.mtspartners.com/health-partners/transactions/investments/2

[niceguy654321]

If the company is going chapter 7 and the asset are sold, why does the stock still trade?

second - the note holders will be awarded the proceeds from the sale of the assets before equity holders, but according to accounting standards any notes with a conversion option shall be treated as equity in substance therefore the proceeds would be spread to all shareholders.

someone correct me if Im wrong.

Thanks

[nutriman24]

Meeting of the Creditors in 10 minutes I believe.....

U.S. Bankruptcy Court
District of Delaware (Delaware)
Bankruptcy Petition #: 12-12269-KG

Assigned to: Kevin Gross
Chapter 7
Voluntary
No asset


Date filed: 08/03/2012

Debtor
Genta Incorporated
200 Connell Drive
Berkeley Heights, NJ 07922
UNION-NJ
Tax ID / EIN: 33-0326866
aka Genta Development Ltd.

represented by Donald J. Bowman, Jr.
Young, Conaway, Stargatt & Taylor
1000 North King Street
Wilmington, DE 19801
302-571-6600
Email: [e-mail]

Trustee
George L. Miller
1628 John F. Kennedy Blvd.
Suite 950
Philadelphia, PA 19103-2110
215-561-0950

represented by John T. Carroll, III
Cozen O'Connor
1201 North Market Street, Suite 1400
Wilmington, DE 19801
[phone]
Fax : [phone]
Email: [e-mail]

U.S. Trustee
United States Trustee
844 King Street, Room 2207
Lockbox #35
Wilmington, DE 19899-0035
302-573-6491

Filing Date # Docket Text
08/03/2012 1 Chapter 7 Voluntary Petition. Amount Paid $306. Filed by Genta Incorporated. (Bowman, Donald) (Entered: 08/03/2012)
08/03/2012 2 Resolutions of the August 1, 2012 Meeting of the Board of Directors. Filed by Genta Incorporated. (Bowman, Donald) Modified docket text on 8/6/2012 (JNP). (Entered: 08/03/2012)
08/03/2012 3 Corporate Ownership Statement pursuant to F.R.B.P. 7007.1(a) Filed by Genta Incorporated. (Bowman, Donald) (Entered: 08/03/2012)
08/03/2012 4 List of Creditors Filed by Genta Incorporated. (Bowman, Donald) (Entered: 08/03/2012)
08/03/2012 5 Disclosure of Compensation of Attorney for Debtor - Rule 2016(b) Filed by Genta Incorporated. (Bowman, Donald) (Entered: 08/03/2012)
08/03/2012 6 Receipt of filing fee for Voluntary Petition (Chapter 7)(12-12269) [misc,volp7] ( 306.00). Receipt Number 6097118, amount $ 306.00. (U.S. Treasury) (Entered: 08/03/2012)
08/03/2012 Judge Kevin Gross added to case. (LA) (Entered: 08/03/2012)
08/06/2012 7 Notice Regarding Deficient Filings: Schedules A&B, D through H, Statement of Financial Affairs with Declaration, Summary of schedules, Declaration Concerning Debtor's Schedules All due By: 08/21/2012(JL) (Entered: 08/06/2012)
08/06/2012 8 Meeting of Creditors 341(a) meeting to be held on 9/7/2012 at 11:00 AM at US District Court, 844 King St., Room 2112, Wilmington, Delaware. (JL) (Entered: 08/06/2012)
08/08/2012 9 BNC Certificate of Mailing - Meeting of Creditors. (related document(s)8) Notice Date 08/08/2012. (Admin.) (Entered: 08/09/2012)
08/08/2012 10 BNC Certificate of Mailing. (related document(s)7) Notice Date 08/08/2012. (Admin.) (Entered: 08/09/2012)
08/23/2012 11 Motion of Chapter 7 Trustee for Order Authorizing Chapter 7 Trustee to Prepare and/or Finalize and File Debtor's Schedules and Statement of Financial Affairs, Extending Time for Filing Schedules and Statement of Financial Affairs, and Approving Reimbursement of Expenses Incurred as an Administrative Expense. Filed by George L. Miller. Objections due by 9/10/2012. (Attachments: # 1 Notice # 2 Proposed Form of Order) (Carroll, John) Modified on 8/24/2012 (JNP). (Entered: 08/23/2012)
08/24/2012 12 Certificate of Service Regarding Motion of Chapter 7 Trustee for Order Authorizing Chapter 7 Trustee to Prepare and/or Finalize and File Debtor's Schedule of Assets and Liabilities and Approving Reimbursement of Costs Incurred as an Administrative Expense (related document(s)11) Filed by George L. Miller. (Carroll, John) Modified on 8/27/2012 (SB). (Entered: 08/24/2012)
08/29/2012 13 Application to Employ/Retain MTS Health Partners, L.P. as Financial Advisor to the Trustee Nunc Pro Tunc to August 16, 2012 Filed by George L. Miller. Hearing scheduled for 10/3/2012 at 02:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. Objections due by 9/17/2012. (Attachments: # 1 Notice # 2 Proposed Form of Order # 3 Declaration # 4 Exhibit A) (Carroll, John) Modified on 8/30/2012 (SB). (Entered: 08/29/2012)
08/29/2012 14 Application to Employ/Retain Miller Coffey Tate LLP as Accountants and Consultants to the Trustee Nunc Pro Tunc Filed by George L. Miller. Hearing scheduled for 10/3/2012 at 02:00 PM at US Bankruptcy Court, 824 Market St., 6th Fl., Courtroom #3, Wilmington, Delaware. Objections due by 9/17/2012. (Attachments: # 1 Notice # 2 Proposed Form of Order # 3 Exhibit A) (Carroll, John) Modified on 8/30/2012 (SB). (Entered: 08/29/2012)
09/04/2012 15 Motion for Relief from Stay Pursuant to Section 362 of the Bankruptcy Code. Fee Amount $176. Filed by First Insurance Funding Corp.. Hearing scheduled for 10/3/2012 at 02:00 PM at US Bankruptcy Court, 824 Market St., Wilmington, DE. Objections due by 9/17/2012. (Attachments: # 1 Notice # 2 Exhibit # 3 Proposed Form of Order # 4 Certificate of Service) (Macauley, Thomas) (Entered: 09/04/2012)
09/04/2012 16 Receipt of filing fee for Motion for Relief From Stay (B)(12-12269-KG) [motion,mrlfsty] ( 176.00). Receipt Number 6140757, amount $ 176.00. (U.S. Treasury) (Entered: 09/04/2012)