Spheris Files Ch. 11 To Sell Off Assets For $75M

Law360, New York (February 4, 2010, 4:08 PM EST) -- Medical technology provider Spheris Inc. has ducked into bankruptcy to complete the sale of its assets to MedQuist Inc. and CBay Inc. for $75 million.

Spheris and its affiliates filed for bankruptcy protection Wednesday in the U.S. Bankruptcy Court for the District of Delaware after announcing that the company had reached an agreement to sell its assets under Section 363 of the U.S. Bankruptcy Code.

Judge Kevin Gross granted a number of typical first-day motions in the bankruptcy Thursday, including a motion for joint administration for...
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