logo
  

Teligent Files For Chapter 11 Bankruptcy

Teligent Inc. (TLGT), a New Jersey-based specialty generic pharmaceutical company, said that it filed for voluntary protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware to pursue a sale process that is intended to maximize the value of the company.

The company began a marketing process ahead of the Chapter 11 filing to determine the level of market interest and is in ongoing discussions with several interested parties.

The company expects to consummate a sale of the entire business or its core assets by early 2022. Meanwhile, Teligent's Canadian affiliate, Teligent Canada, will be pursuing an out-of-court sale process.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ontario, Canada-based Erie Meat Products Ltd. is recalling approximately 1,224 pounds of fully cooked chicken bologna products, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The chicken bologna products were imported and distributed into the United States without the benefit of FSIS import reinspection. The U. S. Food and Drug Administration or FDA has issued a public health alert against Fulvic Care Powder and Tablets from Ontario, Canada -based Black Oxygen Organics due to elevated levels of lead and arsenic. The agency advised consumers not to use Fulvic Care Powder and Tablets from Black Oxygen or give the products to pets due to elevated levels of lead and arsenic. Alexander & Hornung, a business unit of Perdue Premium Meat Co., Inc., is recalling around 234,391 pounds of fully cooked pork products citing possible contamination with Listeria monocytogenes, the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves ham and pepperoni products that come under various brands and produced on various dates.
RELATED NEWS
Follow RTT