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Biotech / Medical : NNVC - NanoViricides, Inc.
NNVC 0.990-6.6%Jan 23 5:05 PM ESTNews

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To: drkaz who wrote (9646)1/2/2018 1:54:47 PM
From: HardToFind   of 9750
 
Debt holders are first in line for assets in liquidation so he'd get the rights to the technology.
As the actual technology (IP) for the Cides resides within Diwan's privately held companies, and NNVC only holds exclusive licenses for pieces of the IP, NNVC's debt holders would not get rights to the underlying technology. They would get first dibs on the Shelton plant, equipment and such - and while that's worth something, it's not worth nearly as much as the IP would have been.
I'm no a BK lawyer...but from what I know about the terms of the license and the BK process (never been through it personally) it seems that it really depends on how the BK were to go down. If the company refuses to pay a bondholder, but continues to pay TheraCour $25K a month (or whatever the terms require) to maintain the license, then the bondholder could very well assume the license to the technology as long as he is willing to keep paying $25K a month to maintain the terms of the licensing relationship.
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