Physiotherapy Holdings Gets Nod For Ch. 11 Plan

Law360, Wilmington (December 17, 2013, 8:13 PM EST) -- Private equity-owned Physiotherapy Holdings Inc. won approval for its prepackaged reorganization Tuesday, as a Delaware bankruptcy judge blessed a plan that will see the chain of physical therapy centers emerge from Chapter 11 after shedding some $230 million in debt.

Physiotherapy Holdings solicited creditor votes for the proposed restructuring prior to filing for Chapter 11 last month, and the prepackaged plan received near-unanimous support from lenders and bondholders, debtor's counsel Nicole L. Greenblatt said at a hearing in Wilmington.

“No one who voted on the plan...
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