In a down year for big corporate bankruptcies, Skadden, Arps, Slate, Meagher & Flom bagged a big assignment Monday for Seattle-based biotechnology company Dendreon as the prostate cancer drug maker filed for Chapter 11 protection in Delaware in a bid to restructure a $620 million debt load.
Kenneth Ziman, a deputy head of Skadden’s corporate restructuring group in New York, is leading a team from the firm serving as lead debtor’s counsel to Dendreon, which will now try to sell itself or its assets in a bankruptcy court in Wilmington.
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