Addiction Center Chain's Ch. 11 Reorganization OK'd In Del.

Law360 (October 20, 2020, 9:40 PM EDT) -- American Addiction Centers Inc. secured confirmation in Delaware late Tuesday for a Chapter 11 plan that will reorganize rather than sell its multistate drug rehabilitation and behavioral treatment chain, with creditors gaining a larger stake in the venture.

During a hearing, U.S. Bankruptcy Judge John T. Dorsey approved AAC's second amended plan after a last-minute flurry of compromises and concessions, including provisions for a litigation trust formed to pursue claims against former directors and officers or other parties for the benefit of unsecured creditors and junior lenders.

Under the plan, the 26-facility chain would emerge with the support of a term...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!