Maxicare Health Plans, as expected, said it...

Maxicare Health Plans, as expected, said it was not able to meet certain debt obligations due Jan. 3. The ailing Los Angeles-based health maintenance organization said in November that it did not expect to make interest and principal payments on its bank credit agreement nor the interest payments due on its 7% convertible subordinated debentures until it completes a financial restructuring. The company said it expects to announce a restructuring plan in February that would likely include a proposal to exchange debt for a package of securities.