AaiPharma Says Its Likely to File Chapter 11

Drugmaker aaipharma said on Monday it is highly likely that it will seek Chapter 11 bankruptcy protection, after failing to make interest payments on some corporate debt on April 1. The company said it has continued discussions with advisers regarding a potential restructuring and agreed a three-week exclusivity period for a third party that is considering buying certain Aaipharma assets.

Reuters (http://www.reuters.com/newsArticle.jhtml?storyID=8075611)