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Unilife Bankruptcy Objection Filed

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Wells Fargo Vendor Financial Services filed with the U.S. Bankruptcy Court an objection to Unilife’s notice to counterparties to executory contracts and unexpired leases regarding cure amounts and possible assumption and assignment to successful bidder at auction.

The objection asserts, “Wells Fargo objects to the Notice to the extent that (a) the Notice is vague or ambiguous as to which lease or leases the debtors intend to assume; (b) the proposed cure amount is incorrect; and (c) there is no evidence of the assignee’s ability to honor its future obligations under the Leases. Wells Fargo is hopeful that an agreement can be reached between the parties to resolve its objection.”

Read more Unilife bankruptcy news.