Addiction Center Biz Proposes Del. Ch. 11 Sale Or Turnover

Law360 (July 27, 2020, 6:41 PM EDT) -- American Addiction Centers Inc. filed a Chapter 11 plan and accompanying disclosure statement over the weekend in Delaware that calls for optionality between an all-asset sale or a more straightforward reorganization of its balance sheet.

In the documents filed Saturday, the debtor said the sale option would be pursued only if an offer comes in that fully satisfies all administrative and priority claims against the company as well as post-petition financing claims and the claims of senior lenders.

In the absence of such an offer for an all-asset transaction, the stand-alone reorganization plan would be pursued by the debtor, according to...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!