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DVI Starts Cutting Employees---Actual Filings “DVI reportedly let go 40% of the workforce across the board
on Wednesday, and 15% on Thursday. The word is that there may be another
list in the morning (Friday). “You probably already have this... but I wanted to let you
know as soon as I heard...” ( name with held ) While the Chapter 11 plans calls for “working capital” and
management of the portfolio, insider sources report that once the irregularities
are documented, the company may not survive and be forced into Chapter 7.
It appears the knee jerk reaction to let go employees will not only affect
sales but portfolio performance. Please see the List
to learn how many have made it in leasing after filing Chapter 11: http://www.leasingnews.org/list.htm Here are the actual
filings of DVI from the courts: Bankruptcy Filing District of Delaware http://two.leasingnews.org/loose_files/DVI%20Inc%20Petition.pdf Order for wages, commissions, benefits, etc. http://two.leasingnews.org/loose_files/First%20Day%20Wage%20Order.pdf List of top 20 Creditors (US Bank, St.Paul,Mn $155M; Canadian
Imperial Bank , Bahamas, $12.7M: Toshiba America Medical Systems,
Chicago, $7.9M http://two.leasingnews.org/loose_files/List%20of%2020%20Largest%20Unsecureds.pdf Motion of Joint Administration http://two.leasingnews.org/loose_files/Motion%20for%20Joint%20Administration.pdf Motion to Extend to Nov 28th. http://two.leasingnews.org/loose_files/Motion%20for%20Joint%20Administration.pdf OnCure Motion for Loan Proceeds http://two.leasingnews.org/loose_files/OnCure%20Motion%20for%20Loan%20Proceeds.pdf |
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