As expected, specialty medical equipment finance company DVI Inc. announced it intended to file for Chapter 11 bankruptcy protection last week. DVI also placed its CFO Steven Garfinkel on administrative leave. Anthony Turek and John Boyle will assume Garfinkel's responsibilities.
There was no word as of press time whether trustee and backup servicer U.S. Bank will step in as the primary servicer. Trading was limited after last Wednesday's announcement.