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Biovest International, Inc. Announces Settlement with Largest Creditor


4/19/2010 10:55:50 AM

TAMPA, Fla. & MINNEAPOLIS--(BUSINESS WIRE)--Biovest International, Inc. (Other OTC: BVTI) today announced that the Company and its largest creditor, Laurus Master Fund, Ltd., including Laurus’ affiliates and assignees, have reached a settlement to restructure the Company’s debt and address the business issues described below, representing a major step toward Biovest filing a Plan of Reorganization to emerge from Chapter 11. As required by the settlement, Biovest filed a motion seeking approval of the settlement terms with the U.S. Bankruptcy Court, Middle District of Florida.

Read at BioSpace.com

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