Impath trust to make $42.96 million plan or reorganization distribution

By Caroline Salls

Pittsburgh, July 25 - Impath Inc.'s bankruptcy liquidating trust will pay its initial cash distribution of $42.96 million, or $2.55 per unit, on Aug. 12 to holders as of Aug. 5 of its class A beneficial interests under the company's plan of reorganization, according to a company news release.

The plan was confirmed by the U.S. Bankruptcy Court for the Southern District of New York on March 22 and took effect on Friday, according to the release.

New York-based Impath provides products and services that help doctors diagnose and treat cancer.

Impath filed for bankruptcy on Sept. 28, 2003. Its Chapter 11 case number was 03-16113.

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