JPMorgan-Backed Transcription Tech Co. Enters Ch. 11

Law360, New York (March 20, 2014, 1:29 PM EDT) -- Medical transcription technology company M*Modal Inc. has voluntarily filed for Chapter 11 protection in New York bankruptcy court, it announced Thursday, citing “changing market dynamics” since it was taken private by the private equity arm of JPMorgan Chase & Co. in 2012.

The Franklin, Tenn.-based company, which specializes in speech-recognition technology, filed for protection in New York, listing between $500 million and $1 billion in both assets and liabilities. The company’s largest creditors include Advanced Media Inc., Cigna Corp., and US Bank NA, which alone holds...
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