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RCS - Immune Pharmaceuticl - Immune Pharmaceuticals Proposal to Exit Bankruptcy

Thu 18th March, 2021 1:07pm
RNS Number : 7520S
Immune Pharmaceuticals Inc.
18 March 2021
 

Immune Pharmaceuticals, Inc. (IMNPQ) Proposal to Exit Bankruptcy.

 

 

Immune Pharmaceuticals Inc. is in early-stage discussions with United General LTD, a UK Institutional Investment firm.

 

Immune Pharmaceuticals Inc.'s trustee and representatives are exploring options to restructure the company with United General LTD.

 

Adeel Ahmed, CFO and Managing partner of United General LTD, is leading the current discussions with Immune Pharmaceuticals Inc.

 

According to United General an initial interest has been presented for acquiring Immune Pharmaceuticals, Inc.

 

According to the preliminary conversations between legal representatives, both sides have agreed to explore all legal avenues to achieve exiting bankruptcy.

Further details surrounding a potential reorganization plan may be announced once a legal pathway can be agreed.

 

 

There can be no assurance that any definitive proposal will be made, or accepted by the bankruptcy court or Immune Pharmaceuticals, Inc., and that any agreement can be executed or that any transactions with the trustee or legal council will be approved or consummated.

 

The company's debt holders and large shareholders are encouraged to contact Adeel Ahmed of United General LTD directly for additional information and syndication opportunities in relation to Immune Pharmaceuticals, Inc.

Adeel can be contacted at; a.ahmed@unitedgeneral.co.uk

(www.unitedgeneral.co.uk)

 

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