Physiotherapy Holdings Gets Nod For Ch. 11 Plan

Law360, Wilmington (December 17, 2013, 8:13 PM EST) -- Private equity-owned Physiotherapy Holdings Inc. won approval for its prepackaged reorganization Tuesday, as a Delaware bankruptcy judge blessed a plan that will see the chain of physical therapy centers emerge from Chapter 11 after shedding some $230 million in debt.

Physiotherapy Holdings solicited creditor votes for the proposed restructuring prior to filing for Chapter 11 last month, and the prepackaged plan received near-unanimous support from lenders and bondholders, debtor's counsel Nicole L. Greenblatt said at a hearing in Wilmington.

“No one who voted on the plan...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.