ABT Molecular Imaging, Inc. has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-11398). ABT, based in Louisville, TN, designs, manufactures and distributes the world’s first and only small-footprint Biomarker Generator for Fludeoxyglucose, the imaging agent used in positron emission tomography. ABT’s Petition reports $1 – $10 million in assets and $10 – $50 million in liabilities. According to the First Day Declaration, ABT is pursuing both a standalone restructuring or a sale of substantially all of its assets under Section 363 of the Bankruptcy Code. ABT has secured up to $4 million in DIP Financing from SWK Funding, LLC to fund its restructuring/sale process. The Garden City Group is the proposed claims and noticing agent. The case has been assigned to the Honorable Laurie Selber Silverstein.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald for more information regarding this matter. Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.