Counsel to Chapter 11 Debtor
Our attorneys represented Insight Health Services Holding Corp. in its successful Chapter 11 case in Delaware. Our multi-disciplinary team developed an innovative approach that combined an exchange offer with a prepackaged plan of reorganization. This enabled the parent to exchange $194.5 million in senior subordinated debt for 90% of the parent’s reorganized common stock without the need to file bankruptcy cases for its operating entities, each of whom had guaranteed the debt. The plan was confirmed by the Delaware court only 42 days after the case was filed. Our attorneys also restructured an additional $330 million of senior debt owed by the company.