Avatex

Situation

Gordian Group delivered several fairness and solvency opinions to Avatex in connection with the restructuring of certain holdings, as well as various classes of its own preferred and common stock.

Engagement

Gordian Group provided recommendations as to the allocations of post-restructuring Avatex common stock, and subsequently also provided expert witness services in connection with potential fraudulent conveyance actions against Avatex.

Outcome

Subsequently, Avatex was able to settle this litigation with the FoxMeyer Drug estate.