India's Aurobindo Pharma is involved in a complicated legal row over Natrol, a vitamin and health products company it bought out of a U.S. bankruptcy proceeding last year for $132.5 million.
At heart, the case revolves around fraud claims against the former owner Plethico Pharmaceuticals that include allegations of fake email and bank accounts for a construction company and contractors acting out parts to mislead the buyers, according to a story filed by Dow Jones Daily Bankruptcy Review.
The lawsuit by Aurobindo builds on claims last year made by a Cerberus Capital Management unit that had loaned money to Natrol when it was owned by Plethico in a case that was settled in full. Unsecured creditors also expect payment in full under a chapter 11 plan that is scheduled for court review in May.
- here's the story (sub. req.)