Unsecured Creditors Contest World Health Bid

Law360, New York (August 4, 2006, 12:00 AM EDT) -- World Health Alternatives Inc.’s unsecured creditors are contesting the conversion of the company’s bankruptcy from a Chapter 11 to a Chapter 7 case.

Such a conversion would eliminate the Official Committee of Unsecured Creditors, the committee’s attorneys state in a court document.

The motion came two weeks after U.S. Trustee Kelly Beaudin Stapleton appealed an 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...
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