Based in New York City, CoMetrics Partners LLC provides a number of services to businesses. Under the guidance of its Managing Partner and Founder Gary Herwitz, this firm advises clients on supply chain management, restructuring, strategy, and other matters. Recently, the United States Bankruptcy Court for the District of Delaware expanded CoMetrics Partners’ offerings by appointing it as Financial Advisor and Liquidating Trustee to the Official Committee of Unsecured Creditors of Spheris Inc.
Spheris, a medical transcription firm, and its subsidiaries filed for Chapter 11 bankruptcy in February 2010, citing new technology as a major cause behind its downturn. During first proceedings, Spheris decided to sell its assets to other medical transcription companies. Subsequently, the court chose CoMetrics Partners to handle recovery for unsecured creditors and possessors of senior subordinated notes. According to estimates, those parties were expected to recover 23 percent of what they were owed.
Following the court’s decision, Gary Herwitz expressed his pleasure in being able to aid the Official Committee of Unsecured Creditors of Spheris. To learn more about Mr. Herwitz and CoMetrics Partners, visit www.CoMetricsPartners.com.