`
`
`
`
`By File & ServeXpress
`The Honorable Morgan T. Zurn
`Leonard L. Williams Justice Center
`500 N. King St., Ste. 11400
`Wilmington, DE 19801
`
`
`Re: Hesaam Esfandyarpour v. GenapSys, Inc., C.A. No. 2022-0296-MTZ;
`and Hesaam Esfandyarpour v. Robert Zollars, et al., C.A. No. 2022-
`0324-MTZ.
`
`
`Dear Vice Chancellor Zurn:
`
`
`I write on behalf of the parties to the referenced actions other than GenapSys,
`
`Inc.1 and Hesaam Esfandyarpour2 in response to the Court’s request for a joint status
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`report.
`
`
`1 As Your Honor is aware, this firm represented GenapSys, Inc. in the referenced actions.
`Richards, Layton & Finger, P.A. has not entered an appearance in these actions, but that
`firm represents Redwood Liquidating Co., f/k/a GenapSys, Inc. (“Redwood”) in the matter
`captioned In re: Redwood Liquidating Co., Case No. 22-10621 (BLS) (D. Del. Bankr.).
`Prior to this letter’s filing, counsel for Redwood was provided a copy of this letter for
`purposes of facilitating the Court’s request for a joint status report, and they have confirmed
`that its contents are accurate.
`
`2 Counsel for Dr. Esfandyarpour was provided a draft of this letter for comment on
`November 20, 2023. The draft was substantially similar to this letter, except that it
`proposed the submission of a stipulation and proposed order dismissing these actions with
`prejudice. Although counsel for Dr. Esfandyarpour and we conferred on the form of a
`status report to the Court, we were unable to reach agreement and understand that Dr.
`Esfandyarpour will be submitting his own report.
`
`{01963759;v1 }
`
`
`
`EFiled: Nov 30 2023 04:43PM EST
`Transaction ID 71512547
`Case No. Multi-Case
`
`
`
`
`The Honorable Vice Chancellor Morgan T. Zurn
`November 30, 2023
`Page 2
`
`
`During the Chapter 11 bankruptcy proceedings, on September 14, 2022, an
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`entity named Sequencing Health, Inc. purchased substantially all of the assets of
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`GenapSys, Inc. and, the following day, GenapSys, Inc. became Redwood
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`Liquidating Co. On January 6, 2023, the United States Bankruptcy Court for the
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`District of Delaware issued an Order Confirming the Debtor’s Combined Disclosure
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`Statement and Chapter 11 Plan of Liquidation (the “Confirmation Order”). The
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`Bankruptcy Court’s Order and the Debtor’s Combined Disclosure Statement and
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`Chapter 11 Plan of Liquidation are attached hereto as Exhibit 1. As is typical, the
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`bankruptcy action remains ongoing to adjudicate certain matters, such as objections
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`to proof of claims.
`
`We respectfully submit that the referenced actions are now moot. First, the
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`Confirmation Order provides for a permanent injunction enjoining pre-bankruptcy
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`claims. Confirmation Order ¶ 9 & Ex. A at Article XIV.E. Second, because
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`GenapSys, Inc. no longer exists, and because Redwood Liquidating Co. is subject to
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`the exclusive jurisdiction of the bankruptcy court, the referenced disputes (which
`
`addressed advancement by GenapSys, Inc. and the governance of GenapSys, Inc.)
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`are now moot.
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`{01963759;v1 }
`
`- 2 -
`
`Respectfully submitted,
`
`
`/s/ Philip Trainer, Jr.
`Philip Trainer, Jr. (#2788)
`Words: 376 / 1,000
`
`
`
`
`The Honorable Vice Chancellor Morgan T. Zurn
`November 30, 2023
`Page 3
`
`
`cc: Register in Chancery (by File & ServeXpress)
`
`Lewis H. Lazarus, Esquire (by File & ServeXpress)
`
`Albert J. Carroll, Esquire (by File & ServeXpress)
`
`R. Eric Hacker, Esquire (by File & ServeXpress)
`
`Russell C. Silberglied, Esquire (by E-Mail)
`
`{01963759;v1 }
`
`- 3 -
`
`
`
`Multi-Case Filing Detail: The document above has been filed
`and/or served into multiple cases, see the details below including
`the case number and name.
`
`Transaction Details
`
`Court: DE Court of Chancery Civil Action Document Type: Status Report
`Document Title: Letter to The Honorable
`Morgan T. Zurn from Philip Trainer, Jr.
`regarding Joint Status Report
`Submitted Date & Time: Nov 30 2023 4:43PM
`
`Transaction ID: 71512547
`
`Case Details
`
`Case Number
`2022-0296-MTZ
`
`2022-0324-MTZ
`
`Case Name
`STAYED 7/13/22 -CONF ORD Hesaam Esfandyarpour
`v. GenapSys, Inc.
`STAYED 7/11/22 - CONF ORD Hesaam Esfandyarpour
`v. Robert Zollars, et al. and Genapsys, Inc., a Delaware
`Corporation,
`
`
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