A federal bankruptcy judge's ruling has moved MedLab, a group of companies that provides clinical lab services to physicians and nursing homes, one step closer to fulfilling its plan to liquidate and to pay off creditors, Dow Jones Daily Bankruptcy Review reported today. Bankruptcy Judge Peter Walsh on Friday approved the company's disclosure statement after no objections to the statement were received by a previously scheduled deadline. Under the proposed plan, only the company's secured lenders will be allowed to vote. Funds from the sale of MedLab's assets will be placed in a liquidation trust, from which the secured lenders will receive a distribution.
