The winding-up petition filed against Wockhardt by the Trustees to the Foreign Currency Convertible Bonds (FCCBs) before the Bombay high Court has been withdrawn.
Earlier in October 2009, the company had been hauled to Court after it defaulted on repaying its $110-million FCCB. The petition was filed by BNY Corporate Trustee Services (the Bank of New York Mellon) on behalf of bondholders, including Sun Pharma Global and QVT.
Wockhardt is one of the few companies with end to end integrated capabilities for its products, starting with the manufacture of the oral and sterile API’s, the dose forms and marketing through wholly owned subsidiary in the US, enabling the company to capture maximum value.
