LifeScan Receives Court Approval of Plan of Reorganization

LifeScan’s Chapter 11 reorganization plan receives approval from US Bankruptcy Court for Southern District of Texas.

• Company said it’s positioned to emerge from financial restructuring process by year-end
• Plan will eliminate more than 75% of its debt
• LifeScan will be under majority ownership of a group of its existing lenders, including Canyon Partners and Brigade Capital Management
• NOTE: July 16, Platinum-Backed LifeScan Files for Bankruptcy in Texas Court

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