InSight Prepack Plan Gets Green Light

Law360, New York (January 28, 2011, 5:01 PM EST) -- InSight Health Service Holding Corp. has won bankruptcy court approval of a prepackaged reorganization plan that will see it erasing more than $290 million in debt in exchange for giving lenders equity in the reorganized company.

Chief Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York signed off on the company's disclosure statement and confirmed its plan Friday, saying it would allow the debtors to emerge from Chapter 11 “with a capital structure that will allow them to satisfy...
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