Former Spheris' plan of liquidation confirmed by bankruptcy court

By Lisa Kerner

Charlotte, N.C., Aug. 26 - SP Wind Down Inc.'s liquidating plan was confirmed on Thursday, according to a filing with the U.S. Bankruptcy Court for the District of Delaware.

The company was formerly Spheris Inc.

As previously reported, the sale of substantially all of the Spheris' assets closed on April 22.

Net proceeds of the sale, the disposition of any remaining assets and any avoidance action recoveries will be distributed to creditors under the plan.

Plan creditor treatment will include the following:

• Holders of administrative expense claims, priority tax claims, non-tax priority claims and other secured claims will be paid in full in cash;

• Holders of general unsecured claims and senior subordinated note claims will receive a share of an unsecured claim distribution; and

• Holders of subordinated claims and equity interests will receive no distribution.

Spheris is a Franklin, Tenn.-based outsource provider of clinical documentation technology and services to health systems, hospitals and group medical practices throughout the United States. The company filed for bankruptcy on Feb. 3, 2010. The Chapter 11 case number is 10-10352.

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