Invacare Corporation

Invacare is a reorganized debtor with its plan confirmed, and the live case activity is now concentrated in a post-confirmation contract dispute with Birlasoft over Oracle-related IT charges that the court took under advisement after a May 18, 2026 hearing. The case began when Invacare and two affiliates filed chapter 11 on January 31, 2023, after a long operating decline tied to CMS competitive-bidding pressure, an FDA consent decree, pandemic supply-chain disruption, higher material and freight costs, and inflation; by the petition date, the company had about $358.1 million of funded debt across secured revolving and term-loan debt, secured convertible notes, and unsecured convertible notes, while operating as a global mobility, seating, and homecare-products manufacturer with roughly 2,800 employees, as described in the Leneghan first-day declarationDkt. 24.

The filed restructuring path was a balance-sheet reorganization rather than a standalone liquidation: Invacare entered chapter 11 with a restructuring support agreement intended to cut debt by about $240 million, fund the cases with a $70 million DIP term loan, support liquidity with a $17.4 million revolver, and raise new money through a $60 million preferred-equity rights offering, according to the Leneghan first-day declarationDkt. 24. The debtor then moved quickly to a consensual plan process, filing its First Amended Chapter 11 PlanDkt. 502 and obtaining confirmation the same day through the confirmation orderDkt. 522, which approved a reorganization plan, releases, exculpation, and preservation of retained causes of action while waiving avoidance actions on the effective date. A later rounded out implementation materials.