Molecular Insight Enters Ch. 11 With $45M Finance Plan

Law360, New York (December 10, 2010, 3:57 PM EST) -- Cancer treatment research company Molecular Insight Pharmaceuticals Inc. has filed for Chapter 11 with a restructuring plan that would see Savitr Capital LLC provide $45 million in financing, following a failure to reach an accord with bondholders.

The Cambridge, Mass.-based company filed for bankruptcy protection Thursday in the U.S. Bankruptcy Court for the District of Massachusetts, and the plan would see Savitr acquire 90 percent of the company's common stock.

The plan also involves the replacement of $195 million in existing bonds with $90 million in...
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