Maxicare Files Reorganization Plan: Maxicare Health Plans...
From Times Staff and Wire Service Reports
Maxicare Files Reorganization Plan: Maxicare Health Plans formally filed a previously announced proposed plan of reorganization with the U.S. Bankruptcy Court in Santa Ana. The Los Angeles-based health maintenance organization, which last March filed for protection from creditors under Chapter 11 bankruptcy proceedings, has proposed to distribute cash, notes and a new issue of common stock to satisfy creditor claims. If approved, health-care providers would become Maxicare’s major stockholders.
