Glenn Agre’s Bankruptcy, Restructuring & Distressed Debt practice—often called upon to find creative ways to protect shareholder value in Chapter 11 exit strategies—has been called in to do just that as Sorrento Therapeutics Inc. aims to successfully exit bankruptcy through proceedings now pending in the U.S. Bankruptcy Court for the Southern District of Texas.

In the Sorrento Therapeutics bankruptcy, Glenn Agre partners Andrew Glenn, Kurt Mayr, and Shai Schmidt are representing an official committee of shareholders that the court approved in late March. In that role, they will seek to maximize value returned to shareholders in the bankruptcy of a company with substantial assets—just as Glenn Agre did in orchestrating an unprecedented, billion-dollar payout to shareholders in the Hertz Global bankruptcy.