Reid Collins Obtains $1 Billion Judgment Against John Mayo and Celtic Pharma Fund

On September 29, 2020, Reid Collins obtained a $1 billion judgment in New York State Supreme Court on behalf of affiliates of Highland Capital Management, L.P. against John Mayo and a group of Celtic Pharma entities that Mr. Mayo co-founded with his business partner, Stephen Evans-Freke. After the trial court and First Department each rejected attempts to dismiss the case by Mr. Mayo and the Celtic Pharma entities, it subsequently entered judgment in the plaintiffs’ favor, including for claims against Mr. Mayo as an alter ego of various Celtic Pharma entities that defaulted on senior secured notes issued to the plaintiffs. The plaintiffs’ claims against Mr. Evans-Freke and his current fund, Auven Therapeutics (as alleged successor to the Celtic Pharma investment manager that defaulted) remain pending in the trial court.

Prior results do not guarantee a similar outcome.