Judge Grants Bid To Toss BioSafe's Ch. 11 Case

Law360, New York (May 16, 2007, 12:00 AM EDT) -- BioSafe Medical Technologies Inc. has ducked out of bankruptcy after a judge on Tuesday granted a joint motion to dismiss an involuntary Chapter 11 petition filed on behalf of the home medical testing company’s creditors.

U.S. Bankruptcy Judge Susan Pierson Sonderby on Tuesday gave the green light to a joint motion to dismiss the case on behalf of BioSafe and all the petitioners after the parties reached a compromise that will enable the company to “emerge sufficiently capitalized and well-positioned to reap the sizable enterprise valuations...
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