Insight Health Services Completes Restructuring; FocalPoint advises Ad Hoc Committee of Floating Rate Noteholders
Insight Health Services Holdings Corp. and its subsidiaries (“Insight” or the “Company”) announced that it has recently emerged from its Chapter 11 restructuring. As part of its successful pre-arranged restructuring, Insight has eliminated nearly $300 million of long-term debt, as the claims of the Senior Secured Noteholders were paid by the issuance of 100% of the new common stock of the reorganized company. Affiliates of Black Diamond Capital Management, LLC (“Black Diamond ”) are the new majority equity owners of the Company. FocalPoint Securities, LLC (“FocalPoint”) served as the financial advisor to the Ad Hoc Committee of Floating Rate Noteholders while Skadden, Arps, Slate, Meagher & Flom LLP served as legal counsel.