Ambulance Company Rural/Metro Files For Chapter 11 Protection in Delaware
The national healthcare industry often converges on Delaware's bankruptcy courts due to the high number of large companies incorporated here. Private equity-owned Rural/Metro Corp. and more than 50 affiliates ("Debtors") filed Chapter 11 protection on Sunday August 4, 2013 after reaching an agreement with creditors. The Scottsdale, Arizona-based company lists assets and debts of more than $500 million. Fortunately for the Delaware healthcare industry, there are no major local creditors.