Hygea Holdings Corp. files for Chapter 11 bankruptcy in Delaware and aims to give ownership of the company to a lender, Bridging Finance Inc., court papers show. Florida-based Hygea owns physician practices, pharmacies and diagnostic facilities, according to its website. The company owes Bridging at least C$160 million ($121 million), court papers show. A proposed restructuring support agreement calls for Hygea to reinstate a portion of Bridging’s secured debt after the bankruptcy and give the lender all of the equity in the reorganized company.
Read the full article: Doctor Manager Hygea Files Bankruptcy, Plans Lender Takeover //