Curative Health Files Chapter 11 With $255M In Debts

Law360, New York (March 27, 2006, 12:00 AM EST) -- New Hampshire-based health care provider Curative Health Services has filed for Chapter 11 bankruptcy protection, listing in its petition $255.6 million in debts and only $155 million in assets.

The company has been financially struggling since last year, and the option of Chapter 11 had been extensively discussed. In December, Curative reached a restructuring agreement with its bondholders that would help strengthen its balance sheet.

Under the agreement, an ad hoc committee representing 80% of its 10.75% senior notes due in 2011 agreed to exchange $185...
To view the full article, register now.