InSight files for Chapter 11

Imaging services provider InSight Health Services and parent InSight Health Services Holdings have filed voluntary petitions for Chapter 11 protection with the U.S. Bankruptcy Court for the District of Delaware.

The previously announced prepackaged plan of reorganization received the support of holders of more than two-thirds of the company's outstanding senior subordinated notes due 2011 and 100% of its common stockholders, according to InSight of Lake Forest, CA.

Operating subsidiaries, such as InSight Health, are not included in the bankruptcy filing and will maintain normal business operations, InSight said. InSight said it believes the reorganization plan should allow it to complete as quickly as possible the exchange of approximately $194.5 million of notes for 90% of its common stock.

By staff writers
May 30, 2007

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InSight posts revenue growth, higher losses, September 1, 2005

Copyright © 2007

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