June 29, 2019 / 12:16 AM / 2 months ago

Medical equipment maker Joerns looks to heal quickly from recent Chap. 11

Joerns WoundCo Holdings Inc is hoping to see its bankruptcy reorganization plan approved next month, just over 30 days from seeking Chapter 11 protection.

Judge John Dorsey in U.S. Bankruptcy Court for the District of Delaware on Wednesday approved a July 25 hearing for the prepackaged reorganization plan. It proposes eliminating about $320 million in debt with Joerns’ first-lien lenders receiving 100 percent of new equity interests in the reorganized company, paying general unsecured claims in full and canceling existing equity interests.

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