Liberty Medical Files Ch. 11 On Heels Of Execs' Buyout

Law360, Wilmington (February 15, 2013, 7:14 PM EST) -- Liberty Medical Supply Inc. entered bankruptcy in Delaware on Friday, two months after a management group purchased the diabetes testing supply company from Express Scripts Inc., saying it wants to restructure around its core business.

The Port St. Lucie, Fla.-based company — which provides home delivery of insulin pumps and other supplies for diabetes patients — listed both assets and debt between $100 million and $500 million in its Chapter 11 petition. 

Several “unexpected events” prompted the filing, including a tax dispute with the company’s former...
To view the full article, register now.