Vivus: U.S. Trustee appoints official committee of equity holders

By Sarah Lizee

Olympia, Wash., Sept. 23 – The U.S. Trustee overseeing Vivus, Inc.’s Chapter 11 case appointed an official committee of equity security holders for the case, according to an order filed Friday by the U.S. Bankruptcy Court for the District of Delaware.

Members of the committee include Bruce Makosky of Bangkok, Andrew L. Sole of Esopus Creek Value Series Fund LP – Series A, based in East Hampton, N.Y., and Steven Chlavin of Beverly Hills, Calif.

As previously reported, Regions 3 and 9 U.S. trustee Andrew R. Vara was directed by the court on Sept. 11 to appoint the committee.

The order had said the reasons for the appointment were disclosed as part of a Thursday bench ruling made as part of the company’s plan of reorganization confirmation hearing.

However, the order did not give any further details on the bench ruling.

Campbell, Calif.-based Vivus is a pharmaceutical company that filed bankruptcy on July 7. The Chapter 11 case number is 20-11779.

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