U.S. Trustee Objects To World Health Asset Sale

Law360, New York (July 18, 2006, 12:00 AM EDT) -- A $53 million deal that will provide crucial funds to bankrupt medical staffing firm World Health Alternatives has been contested by the U.S. Trustee assigned to the case, who has contended the agreement unfairly benefits unsecured creditors.

U.S. Trustee Kelly Beaudin Stapleton has appealed the recently approved deal between World Health and fellow medical staffer Jackson Healthcare Staffing.

Jackson acquired World Health’s assets for $43 million in cash and $10 million in assumed debt in an agreement brokered by creditor Capital Source Finance LLC, which also...
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