Lake Forest-based InSight Health Services Holdings Corp., a provider of medical scanning services that is seeking to trade most of company's shares for debt relief, now is taking its plan to bankruptcy court.InSight, with yearly sales of $300 million, filed for bankruptcy reorganization Wednesday.
The company plans to press on with its plan to offer 90% of its common stock to creditors in exchange for $195 million in debt due in 2011.
InSight had been trying to sell debt holders on the plan outside bankruptcy court. The plan has the backing of more than two-thirds of its debt holders and all common stockholders, according to InSight.
