New Delaware Chapter 11 Filing – Insightra Medical, Inc.

Insightra Medical, Inc., a commercial-stage cardiology and general surgery medical devices company, and one of its affiliates filed for chapter 11 bankruptcy relief in the United States Bankruptcy Court for the District of Delaware (Case No. 17-10179 (KG)).  The petition lists between $1 and $10 million in assets and between $10 and $50 million in liabilities.  According to the First Day Declaration, the Debtors filed a prepacked chapter 11 plan with the goal to completely restructure the Debtors’ prepetition balance sheet and to emerge from chapter 11 as a viable company.  The Debtors seek joint administrationof these cases.  The cases have been assigned to the Honorable Kevin Gross.

Contact Norman L. Pernick and Nicholas J. Brannick for more information.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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