Millennium Health LLC is back on track to exit chapter 11 and pay off a $256 million settlement with the Justice Department, Dow Jones Daily Bankruptcy Review reported yesterday. Bankruptcy Judge Laurie Selber Silverstein on Friday lifted a stay of her order confirming the drug-testing company's chapter 11 plan, paving the way for Millennium's emergence from bankruptcy protection. The judge said that she found the threat to Millennium's survival and the preservation of 1,200 jobs outweighed the rights of Voya Investment Management to appeal her confirmation of the drug tester's plan at a hearing in U.S. Bankruptcy Court in Wilmington, Del. The Justice Department has accused Millennium of billing taxpayer-funded programs for unnecessary tests and giving physicians kickbacks to steer lucrative lab work its way. Millennium has admitted no wrongdoing, but agreed to the settlement. The company filed for chapter 11 protection to cement the settlement in place.
