On July 23, 2012, Otologics, L.L.C. (“Otologics”) filed for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the Eastern District of Missouri.
On September 6, 2012, the Bankruptcy Court approved the sale of most (but not all) of Otologics’ assets to Cochlear Limited. A copy of the order approving the sale may be viewed here. On September 28, 2012, the sale to Cochlear Limited was completed.
Otologics is now awaiting a ruling from the Colorado Court of Appeals in the litigation involving Neurelec, S.A. Oral argument before the Court of Appeals is scheduled for September 24, 2013, with a ruling expected at some unknown future date.