Teligent is in a post-confirmation wind-down, with the plan effective since July 26, 2022, the cases still open, and the Plan Administrator’s latest reports showing only limited ongoing activity for the lead debtor and no final decree date. The lead debtor’s March 31, 2026 post-confirmation report shows $2,000 of cash disbursements in the quarter, $1.77 million cumulative cash disbursements since the effective date, $8.26 million of professional fees paid since the petition date, and only $328,171 of cumulative administrative-claim payments, with no reported payments to secured, priority, general unsecured, or equity classes in that report Chapter 11 Post-Confirmation ReportDkt. 1141. Companion reports for affiliated cases likewise show no cash disbursements, transfers, professional-fee activity, or creditor distributions for the quarter, and no anticipated final-decree application date Affiliate Post-Confirmation ReportDkt. 1142.
The case began on October 14, 2021, when Teligent filed chapter 11 in Delaware after a combination of regulatory setbacks, COVID-related demand disruption, liquidity pressure, and an overlevered capital structure left the pharmaceutical manufacturer unable to stabilize outside court Chapter 11 Voluntary PetitionDkt. 1. The first-day declaration described a generic topical, branded generic, and injectable pharmaceutical business with operations centered in New Jersey and Canada, approximately 134 employees, and prepetition debt including about $16.4 million under an ACF first-lien revolver, $86.7 million under an Ares second-lien term facility, roughly $23 million of trade and other unsecured obligations, a $3.3 million PPP loan, and a small residual convertible-note obligation . The same declaration tied the filing to the company’s failed effort to absorb pandemic-driven revenue decline, FDA-related issues, lender reserves, and the need to preserve going-concern value while pursuing a financed sale process.
The restructuring path moved from emergency liquidity and sale preservation into a plan process under the renamed debtor group. By April 2022, the debtors had filed the First Amended Joint Chapter 11 Plan of VJGJ, Inc. and its debtor affiliates, structured around seven classes and a post-bankruptcy administration framework First Amended Joint Chapter 11 PlanDkt. 655. A revised plan supplement followed in July 2022, supplying implementation materials for the second amended plan shortly before the reported July 15, 2022 confirmation and July 26, 2022 effective date Revised Plan SupplementDkt. 821. The current posture is therefore not an operating restructuring but a mature post-effective-date administration: the remaining work is case administration, residual claim and fee mechanics, and eventual closure once the Plan Administrator is ready to seek final decrees.
