Bankrupt MedLab Floats Ch. 11 Plan, $5.5M Unit Sale

Law360, Wilmington (May 21, 2014, 9:39 PM EDT) -- Clinical testing company Laboratory Partners Inc., also known as MedLab, moved Wednesday to bring its bankruptcy to a swift conclusion, asking a Delaware bankruptcy judge to approve both a Chapter 11 plan and a $5.5 million sale of its final operating unit by the middle of June.

MedLab requested expedited treatment for its newly submitted Chapter 11 plan, under which senior secured creditors would be the only voting class, saying speed is required to preserve the estate's value, according to a motion filed in Delaware bankruptcy...
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