Sorrento Therapeutics, Inc.

Track this case

Case overview

Case Number:

4:23-bk-90085

Court:

Texas Southern

Nature of Suit:

Firms

Companies

Sectors & Industries:

February 27, 2024
Latham, Jackson Walker Avoid Sanctions Over Sorrento Venue

A Texas bankruptcy judge declined to level sanctions against Latham & Watkins LLP and Jackson Walker LLP for trying to establish Texas jurisdiction for California-based Sorrento Therapeutics Inc. in its Chapter 11 bankruptcy, finding that their conduct did not amount to bankruptcy fraud.
February 22, 2024
Sorrento Says US Trustee's Protest Of Texas Venue Off Base

Sorrento Therapeutics Inc. told a Texas bankruptcy court the company's choice to bring a Chapter 11 in the Lone Star State was sound, so the court should ignore a call from the U.S. Trustee's Office to trash or relocate the case.
February 20, 2024
US Trustee Wants Sorrento Ch. 11 Tossed Or Relocated

The U.S. Trustee's Office has moved to have Sorrento Therapeutics' Chapter 11 case dismissed, alleging the biopharmaceutical company manufactured a venue in Texas bankruptcy court, even as the debtor asked for court approval to sell off its assets to its CEO under a revised reorganization plan.
January 24, 2024
Latham Ducks Sanctions In Sorrento Ch. 11

A Texas bankruptcy judge Wednesday declined to level sanctions against Latham & Watkins LLP over their disclosures about their work with a lawyer who was dating the judge overseeing Sorrento Therapeutics Inc.'s Chapter 11, but did not yet rule on sanctioning Jackson Walker LLP in the same case, saying further inquiry was needed.
January 05, 2024
Latham Denies Exploiting Texas Judge Scandal For Fees

Latham & Watkins LLP has fired back against accusations it knowingly exploited an improper relationship between a Texas judge and an attorney to inflate its fees during the bankruptcy of Sorrento Therapeutics Inc., claiming the firm had absolutely no knowledge of the headline-grabbing ethics scandal before the news broke last fall.
November 30, 2023
Sorrento Gets OK For 5-Month Ch. 11 Wind-Down

A Texas bankruptcy judge on Thursday approved drug developer Sorrento Therapeutics Inc.'s disclosure statement and its Chapter 11 liquidation plan, which would go into effect in five months, possibly offering the debtor an opportunity to find an alternative to liquidation.
November 29, 2023
Sorrento Investors Ask To Probe Counsel Conflicts In Ch. 11

Shareholders of bankrupt drug developer Sorrento Therapeutics Inc. have demanded the company turn over information about the debtor's counsel getting advice from an attorney who was romantically involved with the judge that formerly presided over the case.
October 18, 2023
Sorrento Cleared For $20M JV Sale In Ch. 11 Case

Bankrupt drug developer Sorrento Therapeutics Inc. received court approval Wednesday in Texas for a $20 million sale of its stake in a joint venture to its South Korean partner, giving it access to much-needed cash as it pursues a Chapter 11 plan.
October 12, 2023
Sorrento Seeks Quick Timeline On Process For Ch. 11 Plan

Sorrento Therapeutics Inc. has asked a Texas bankruptcy judge for a speedy hearing on its disclosure statement for its Chapter 11 plan, saying delay may eat up value creditors can recover.
October 11, 2023
Sorrento To Sell JV Stake For $20M In 'Urgent' Bid For Cash

Sorrento Therapeutics Inc. has asked a Texas bankruptcy judge to approve a sale of its stake in a joint venture with pharmaceutical company Yuhan Corp. to the South Korean firm for $20 million, citing an immediate need for liquidity to cover Chapter 11 expenses.