CASE PROFILE: Prison healthcare provider Wellpath looks to run lender-backed Chapter 11 sale process and reorganization around corrections business
12th November 2024 03:18 PM
Wellpath filed its Chapter 11 petition on Monday (11 November) in the US Bankruptcy Court for the Southern District of Texas, reporting USD 644.1m in prepetition funded secured debt. The company comes into the process with a restructuring support agreement (RSA) signed by 85% of Wellpath’s first lien lenders and at least 80% of the company’s second lien lenders.