Exaeris creditors unanimously approve liquidation plan

By Caroline Salls

Pittsburgh, May 21 - Exaeris, Inc.'s plan of liquidation was approved by 100% of eligible voting creditors, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Of the 13 ballots received by the May 20 voting deadline, Exaeris said nine were eligible to be counted.

Specifically, Jack Kachkar, who holds a $2.08 million debtor-in-possession financing claim, voted to accept the plan, as did all eight holders of $6.5 million in general unsecured claims.

Exaeris is a subsidiary of Inyx, Inc., which develops drug delivery technologies and products for the treatment of respiratory, allergy, dermatological, topical and cardiovascular conditions.

Exaeris was placed in bankruptcy on July 2, 2007. Its Chapter 11 case number is 07-10887.

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