Counsel to Court-Appointed Receiver for Prison Health Care Company
Representation of liquidating receiver for MDI Holdings Inc., appointed by the Delaware Chancery Court. MDI is a health care technology and analysis company whose historical core business was to manage the provision of health care to inmates of federal prison facilities. At its height, the company employed over 200 employees and in 2009 exceeded $97 million in sales. The matter is unique because the company is being methodically liquidated by a receiver and not a trustee in bankruptcy. As a consequence, we have been involved in virtually every aspect of the liquidation process including: disengaging from third-party provider agreements with the Bureau of Prisons; the sale of the company's sophisticated software platform; termination and resolution of claims by and against employees; resolution of numerous litigation claims by and against the company; agreements with the secured lender concerning the use of cash and other collateral; and director and officer claims management.