TridentUSA Health Services Plan Confirmed; Emerges From Chapter 11 Restructuring

Skadden represented TridentUSA Health Services in securing approval of its plan of reorganization from the U.S. Bankruptcy Court for the Southern District of New York. The company emerged from bankruptcy on September 20, preserving its going-concern value and approximately 5,000 jobs. Over the course of TridentUSA’s Chapter 11 cases, Skadden was instrumental in negotiating and obtaining approval of a $50 million debtor-in-possession financing facility, settlements of two separate intercreditor litigations, a global settlement of qui tam claims with the U.S. government and two whistleblowers (or relators) and $185 million of exit financing.