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21st Century Oncology To Restructure $1.1B Of Debt In Ch. 11

Law360, New York (May 25, 2017, 8:14 PM EDT) -- Facing a bloated balance sheet and difficulties attributed to lower reimbursement rates and health care regulation penalties, global cancer treatment center operator 21st Century Oncology sought Chapter 11 protection on Thursday in New York bankruptcy court to implement a prearranged plan that would chop its $1.1 billion debt in half.

21st Century Oncology Holdings Inc. and dozens of its affiliated companies across the nation filed for bankruptcy with the intention of executing a prepackaged restructuring that they say has already received support from secured lenders, preferred-stock...
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