Olshan Client TAH Windown Gets Chapter 11 Case Dismissed
A recent Law360 article reported that Olshan client TAH Windown (formerly SynCardia Inc.), an Arizona-based medical technology company that manufactured artificial heart implants, received court approval for a dismissal of its Chapter 11 case due to the complete sale of the company’s assets and its subsequent inability to distribute money to creditors. Pending approval for final fee applications from the attorneys and other professionals who worked on the case, TAH Windown can proceed with the dissolution of the company, as opposed to the dismissal order doing so, as was originally planned. “That’s no longer the process,” explains Jonathan Koevary, the Olshan attorney, along with Michael Fox, representing TAH Windown. “Rather, the order would authorize the dissolution absent any need for further corporate authority. That’s the mechanism we built into the motion.” The unsecured creditors committee does not oppose the motion to dismiss and has agreed to donate any leftover monies to a charity of the committee’s choice.
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