Functional Restoration Medical Center

Representation of the creditors’ committee in the chapter 11 case of Functional Restoration Medical Center, an owner and operator of a chain of MRI centers throughout Southern California. In light of evident management issues, the committee successfully sought the appointment of a chief restructuring officer and thereafter participated in an extensive marketing of the debtor’s assets. With the assistance of the committee, the debtor was able to negotiate significant reductions in the secured debt held by various secured creditors. Within three months, the debtor was able to sell its assets at the market’s maximum value.