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Orlando healthcare company to emerge from Chapter 11 bankruptcy

The Orlando-based healthcare tech company Rotech saw its debt restructuring plan approved by a federal judge. That court action allowed Rotech Healthcare Inc. to emerge from Chapter 11 bankruptcy reorganization, according to the company. Additionally, the judge approved $358 million in financing, which the company expects to close in on in September, thus ending its time in bankruptcy.

It was a change for Rotech, which had spent five months preparing two amended plans after it entered bankruptcy to try to restructure debt worth roughly $545 million. Nearly half of that outstanding debt was expected to be eliminated by the restructuring. The reorganization terms require the company to cancel its existing common stock. It will then issue new shares to its most senior creditors.

Rotech said in promotional materials that it offered a comprehensive range of home medical services and equipment. Their products and services for the home were said to include respiratory products such as nebulizers, as well as medications and other respiratory health services and supplies. The company also reportedly offered home medical equipment and accessories in addition to assessment and treatment of sleep disorders. Rotech employed more than 3,500 people at approximately 450 locations ranging over 48 states across the country.

Bankruptcy isn't only for big healthcare companies in Orlando. It's available for people overloaded with credit card debt, medical bills or foreclosure. An attorney experienced in Chapter 7 bankruptcy up through Chapter 13 bankruptcy may be able to help individuals considering a personal bankruptcy. Such an attorney may be able to assist with debt relief by helping clients file for Chapter 11 bankruptcy, as well as offering other advice to allow.Source: Rotech.com, "Welcome," 2002Source: Rotech.com, "About Us," 2002

Source: Orlando Sentinel, "Judge approves Rotech plan to leave bankruptcy", Richard Burnett, August 29, 2013