WSJ: JPMorgan Private Equity Arm-Owned Co. Prepares for Bankruptcy
The Wall Street Journal reported a medical services company owned by a JPMorgan Chase private-equity arm, One Equity Partners, is preparing to file for bankruptcy protection, people familiar with the matter said.
According to the Journal M*Modal is in discussions with its creditors on a prearranged restructuring plan that would streamline its trip through bankruptcy court, the sources said.
The Journal said further some creditors, including Brigade Capital Management, Blackstone Group’s GSO Capital Partners and Fidelity Investments, are negotiating with the company to swap their debt for equity in the reorganized company, the sources added.
To read the entire Journal article, click here.