Court Approves Jobson Medical Restructuring Plan
U.S. Bankruptcy Judge Sean Lane of the U.S. Bankruptcy Court in the Southern District of New York has approved Jobson Medical Information Holdings’ pre-packaged Chapter 11 plan, a Dow Jones Daily Bankruptcy Review article said. The plan approval allows the company to emerge from bankruptcy by March 26.
The plan, which was majority supported by creditors, will give GE Capital, the company’s secured lender, 20% equity in the company. In exchange, GE will give Jobson three additional years to repay its $117.3 million loan, the article said. The GE loan reached maturity on December 1, 2011. The new maturity date of the loan is December 14, 2014.
Jobson Medical is a medical information company.