Duramed
Executive Summary
Proposes $ 7 mil. cash payments to unsecured creditors as partial payment of the company's outstanding debt, the company said Aug. 2. Duramed's "principal lender" has agreed to provide the funds in exchange for 7.85 mil. shares of Duramed stock, the company said. The plan will take effect if the offers are accepted by "substantially all" of Duramed's creditors.