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Magellan Can Meet Pre-Chapter 11 Obligations

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NU Online News Service, March 12, 2003, 10:19 a.m. EST – Magellan Health Services Inc., Columbia, Md., says it has received permission from the U.S. Bankruptcy Court in New York to honor all pre-Chapter 11 obligations to employees, providers and customers in the ordinary course of business.

Magellan, a company that administers mental health coverage for one-quarter of all U.S. residents, filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code Tuesday.