Court Confirms Appointment of CoMetrics Partners and Walter Jones

Oct 18, 2010, 12:00 ET from CoMetrics Partners LLC

NEW YORK, Oct. 18 /PRNewswire/ -- The United States Bankruptcy Court for the District of Delaware has approved the retention of CoMetrics Partners LLC as Financial Advisors and Walter Jones as Liquidating Trustee for SP Wind Down, formerly Spheris Inc.

Spheris Inc, which had been a transcriber of medical dictation for doctors and hospitals, has an approved Chapter 11 plan in which unsecured creditors and holders of senior subordinated notes were told in the disclosure statement that they should expect recovery of approximately 23 cents on the dollar.  

CoMetrics Partners LLC had been acting as the financial advisor to the Committee, and Walter Jones, Managing Director of the CoMetrics Profit Maximization/Turnaround Division as Liquidating Trustee responsible for distributing the company proceeds and other remaining assets.

Mr. Jones has extensive experience in Chapter 11 restructuring and has been directly responsible for advising debtors and the creditors' committee with respect to marshalling and distributing estate assets, reconciling liabilities and maximizing timely distributions to creditors.

"We are pleased the Official Committee has selected and the court approved CoMetrics Partners to act as its Financial Advisor and Liquidating Trustee," said Gary D. Herwitz, Managing Partner of CoMetrics.

About CoMetrics Partners

CoMetrics Partners LLC was founded in 2005 by Managing Partner Gary D. Herwitz.  The firm specializes in providing middle market companies with strategic vision and leadership to integrate operations, technology and finance. The firm's services include consulting and corporate finance, profit improvement and turn around services as well a proprietary supply chain management solution for middle market importers.

CONTACT: Mr. Gary Herwitz of CoMetrics Partners, +1-212-381-0872

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SOURCE CoMetrics Partners LLC