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Case 12-19882

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MASSACHUSETTS EASTERN DIVISION ____________________________________ ) In re: ) ) NEW ENGLAND COMPOUNDING ) CHAPTER 11 PHARMACY, INC., ) CASE NO. 12-19882-HJB ) Debtor. ) ____________________________________) MOTION OF DEBTOR AND DEBTOR-IN-POSSESSION TO EXTEND THE TIME TO FILE SCHEDULES, STATEMENT OF FINANCIAL AFFAIRS AND RELATED DOCUMENTS (R EQUEST FOR EX PEDIT ED CONSIDER AT ION ) New England Compounding Pharmacy, Inc., the debtor and debtor in possession (the Company) in the above-captioned chapter 11 case (the Chapter 11 Case), hereby submits this motion (the Motion) for the entry of an order, substantially in the form attached hereto, granting the Company an extension through and including January 21, 2013, of the time to file its schedules of assets and liabilities and statement of financial affairs (collectively, the Schedules), pursuant to 11 U.S.C. 1116(3). Pursuant to MLBR 9013-1(g), the Company respectfully requests that this Court make an expedited determination with respect to this Motion. In support of this Motion, the Company respectfully states as follows: Background 1. On December 21, 2012, the Company filed a voluntary petition for relief under

chapter 11 of the Bankruptcy Code (the Petition Date). 2. The Company continues to own and manage its assets as a debtor-in-possession

pursuant to 1107(a) and 1108 of the Bankruptcy Code. 3. To date, no trustee, examiner, creditors committee, or other official committee

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has been appointed in the Companys Chapter 11 Case. 4. The Company is a compounding pharmacy which combines ingredients to create

specific formulations of pharmaceutical products. Prior to the Petition Date, numerous individuals across the country were stricken with fungal meningitis attributed to contaminated products distributed by the Company. In early October, NECC initiated a nationwide recall of potentially contaminated product and, in cooperation with regulatory authorities, ceased operation. More than 100 lawsuits have been filed and hundreds more are expected in connection with this tragic occurrence. 5. Through this Chapter 11 case, NECC seeks to forge a consensual, comprehensive

resolution of these claims in the form of a Chapter 11 plan establishing a compensation fund for meningitis claimants based on agreements to be reached among them, the Company, its insurers and other parties with potential liability for the meningitis cases. To spearhead this effort, the directors and shareholders appointed Keith D. Lowey of Verdolino & Lowey, P.C. as independent director and chief restructuring officer with plenary and exclusive authority over matters related to personal injury claims and the Companys conduct of this Chapter 11 case. The Companys goal is to provide a greater, quicker, fairer and less expensive payout to its creditors than they could achieve through piecemeal litigation. Jurisdiction 6. This Court has subject matter jurisdiction to consider this matter pursuant to 28

U.S.C. 1334. This is a core proceeding pursuant to 28 U.S.C. 157(b). Venue is proper before this Court pursuant to 28 U.S.C. 1408 and 1409. 7. The statutory bases for the relief requested herein are 105(a) and 521(a)(1)(B)

of the Bankruptcy Code, Rule 1007(c) of the Federal Rules of Bankruptcy Procedure (the

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Bankruptcy Rules), and Rule 1007(h) of the Local Bankruptcy Rules of the United States Bankruptcy Court for the District of Massachusetts. Relief Requested 8. Pursuant to Bankruptcy Code 521 and Bankruptcy Rules 1007(a) and (c), the

deadline to file the Schedules is January 4, 2012. The Company respectfully requests that this Court enter an Order, on an expedited basis, extending the deadline for the filing of the Schedules through and including January 21, 2013. Basis for Relief 9. Section 1116(3) of the Bankruptcy Code and Bankruptcy Rule 1007(c) gives this

Court the power to extend the deadline for filing the Companys Schedules to a date no later than 30 days after the date of the order for relief, for cause shown. As demonstrated below, ample cause exists to grant the extension requested herein. 10. Preparation of complete and accurate Schedules will require, among other things,

appropriate personnel to gather, review and analyze a substantial amount of information and to populate the appropriate Bankruptcy Forms with such information. This is a time-intensive process and to date, the Companys attentions have been focused on preparing and filing this Chapter 11 case, the numerous civil actions outstanding in multiple jurisdictions across the nation, ongoing regulatory inquiries and investigations, coordinating efforts pertaining to the recall of certain of the Companys products, as well as liaising with the U.S. Trustees office, their bankruptcy professionals and other counsel. Furthermore, since the Company ceased operations in or about October 2012, the Company has drastically reduced its employment ranks to a minimum number of personnel. Accordingly, the Company has not yet been able to complete the Schedules and will not have the time or the resources to do so prior to the current

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deadline. 11. The Bankruptcy Code 341 meeting of creditors has not yet been scheduled, and

a deadline for filing proofs of claim has not yet been set. The U.S. Trustee and all other parties in interest will have ample opportunity to review the Schedules well in advance of both of these events, notwithstanding the extension of the deadline as requested in this Motion. As such, no prejudice will inure to any interested party as a result of granting the relief requested herein. For these reasons, good cause exists to extend the deadline for filing the Schedules through and including January 21, 2013. Request for Expedited Consideration 11. Pursuant to MLBR 9013-1(g), the Court may consider this Motion on an

expedited basis where exigent circumstances are present justifying such relief. Such exigencies are present given that the standard deadline under MLBR 1007-1 for the filing of certain documents for which the Company seeks an extension of the deadline is prior to the time that this Motion could be heard absent expedited consideration. Accordingly, the Company respectfully requests the entry of the Order, in substantially the form affixed hereto, granting the relief sought in this Motion. Notice 12. The Company has served a copy of this Motion by the Courts ECF System,

facsimile, overnight courier and/or electronic mail on (a) the Companys 20 largest unsecured creditors as identified in the list accompanying its petition, (b) the Office of the United States Trustee, and (c) all parties who have filed a notice of appearance in this case. In light of the relief requested herein, the Company submits that no other or further notice is required. No request for the relief sought herein has been made to any other Court.

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WHEREFORE, the Company respectfully requests that this Court enter an Order: (i) granting this Motion; (ii) extending the deadline by which the Company must file its Schedules through and including January 21, 2013; and (iii) granting such other and further relief in favor of the Company as the Court deems just and proper. Respectfully submitted, NEW ENGLAND COMPOUNDING PHARMACY, INC., By its attorneys, /s/ Keri L. Wintle Daniel C. Cohn, Esq. BBO #090780 Keri L. Wintle, Esq. BBO #676508 Murtha Cullina LLP 99 High Street, 20th Floor Boston, MA 02110 (617) 457-4000 Telephone (617) 482-3868 Facsimile dcohn@murthalaw.com kwintle@murthalaw.com

Dated: December 21, 2012

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UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF MASSACHUSETTS EASTERN DIVISION ____________________________________ ) In re: ) ) NEW ENGLAND COMPOUNDING ) CHAPTER 11 PHARMACY, INC., ) CASE NO. 12-19882-HJB ) Debtor. ) ____________________________________) ORDER GRANTING MOTION OF DEBTOR TO EXTEND THE TIME TO FILE SCHEDULES, STATEMENT OF FINANCIAL AFFAIRS AND RELATED DOCUMENTS Upon the Motion (the Motion)1 of New England Compounding Pharmacy, Inc., as debtor and debtor-in-possession (the Company), for the entry of an Order extending the time for the Company to file its Schedules, Statement of Financial Affairs and Related Documents, and this Court possessing the jurisdiction to consider the Motion, and venue lying appropriately with this Court, and notice of the Motion having been sufficient under the circumstances, and having reviewed the Motion and all papers related thereto heretofore filed, and the relief requested in the Motion being warranted, IT IS HEREBY ORDERED THAT: 13. 14. The Motion is GRANTED. The deadline for the Company to file its Schedules is hereby extended through

and including January 21, 2013 without prejudice to the Companys ability to seek further extensions. 15. This Order shall take effect immediately upon its entry notwithstanding any

Bankruptcy Rule or other provision to the contrary.


1

Capitalized terms not otherwise defined herein shall have the respective meanings ascribed to such terms in the Motion.

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16.

This Court shall retain jurisdiction to consider all matters arising from and/or

related to the interpretation and/or implementation of this Order. Dated: December ____, 2012 Boston, MA ________________________________________________ UNITED STATES BANKRUPTCY JUDGE

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