The U.S. Bankruptcy Court for the District of Delaware has cleared the way for imaging services provider InSight Health Services and parent company InSight Health Services Holdings to emerge from Chapter 11 bankruptcy.
The court on July 10 approved a joint reorganization plan for both entities.
The Lake Forest, CA-based InSight also announced that Bank of America will provide a $30 million revolving credit line as working capital for ongoing operations.
InSight expects the plan to become effective on or about August 1, once all conditions have been satisfied and the $30 million revolving credit line has closed.
By AuntMinnie.com staff writers
July 11, 2007
Related Reading
InSight files for Chapter 11, May 30, 2007
InSight Health seeks to reduce debt, February 15, 2007
DRA charge adds to red ink at InSight Health, September 29, 2006
InSight Health completes East Bay imaging deal, March 16, 2006
West Physics signs InSight Health, December 13, 2005
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