Spheris Progresses Toward Wind-Down

Law360, New York (July 14, 2010, 12:19 PM EDT) -- Having already auctioned off its assets for $116 million, bankrupt transcription technology company Spheris Inc. has now secured court approval of the disclosure statement for its Chapter 11 liquidation plan.

On Tuesday, Judge Kevin Gross signed off on the debtor’s amended disclosure statement in the U.S. Bankruptcy Court for the District of Delaware, requiring impaired creditors to submit objections to the liquidation plan by Aug. 17 and setting a confirmation hearing for Aug. 26.

“The proposed disclosure statement is approved as containing adequate information,” Judge Gross...
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