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Published on 11/5/2015 in the Prospect News Distressed Debt Daily.

SIGA Technologies gets exclusivity extension to negotiate plan terms

By Caroline Salls

Pittsburgh, Nov. 5 – SIGA Technologies, Inc. received court approval to extend its exclusive periods for filing a Chapter 11 plan of reorganization and soliciting votes on the plan, according to an order filed Thursday with the U.S. Bankruptcy Court for the Southern District of New York.

Specifically, the company’s exclusive filing period was extended through Nov. 24 from Aug. 14 and the solicitation period through Jan. 13 from Oct. 13.

“SIGA has been engaged in negotiations with the committee with respect to the terms of a Chapter 11 plan in an attempt to develop consensus,” the motion said.

“These negotiations are ongoing and have been very productive. The parties, however, have not yet reached an agreement on all terms. SIGA is optimistic that these negotiations and discussions will culminate in a consensual plan of reorganization.”

Based in New York, SIGA Technologies develops and commercializes solutions for serious unmet medical needs and biothreats. The company filed for bankruptcy on Sept. 16, 2014 under Chapter 11 case number 14-12623.


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