Court approves Graceway Pharmaceuticals $6 million GTCR settlement

By Caroline Salls

Pittsburgh, March 12 - Graceway Pharmaceuticals, LLC received court approval of a settlement agreement with member GTCR Golder Rauner, LLC and its affiliates, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Under the settlement, GTCR will pay $4.5 million to the first-lien facility agent for the benefit of the first-lien claimholders.

GTCR will also pay $1.5 million to the debtors' estates to be included as other assets under Graceway's plan of reorganization.

Graceway, a Bristol, Tenn.-based pharmaceutical company, filed for bankruptcy on Sept. 29. Its Chapter 11 case number is 11-13036.

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