The Dolan Company and its subsidiaries (collectively, the “Company”) announced that they have emerged from chapter 11 only 81 days after voluntarily filing for bankruptcy protection. As previously announced, the United States Bankruptcy Court for the District of Delaware confirmed the Company’s plan of reorganization on June 9, 2014.

Under the plan of reorganization, the Company’s secured lenders are now the owners of The Dolan Company. Investment funds managed by Bayside Capital, Inc. are the majority owner. Bayside Capital is an affiliate of H.I.G. Capital, a leading global private investment firm with more than $15 billion of equity capital under management.

With its successful reorganization, the Company has completed a comprehensive balance-sheet restructuring with the Company’s secured lenders which significantly improves the Company’s capital structure. The restructuring also establishes DiscoverReady LLC, formerly The Dolan Company’s e-discovery business, as a separate and independently managed operating company. DiscoverReady is also majority owned by investment funds managed by Bayside Capital, Inc.

In connection with the plan of reorganization, the Court approved a settlement between the Company and the Official Committee of Equity Security Holders appointed in the Company’s chapter 11 cases. Pursuant to the settlement, the Company will transfer approximately $3.2 million composed of cash and a note receivable to a trust established for the benefit of holders of the Company’s preferred and common stock. Approximately 20 percent of the proceeds of the trust subsequently will be distributed pro rata to holders of The Dolan Company’s preferred stock as of June 12, 2014; the balance will be distributed pro rata to holders of The Dolan Company’s common stock as of June 12, 2014. The Dolan Company’s preferred and common stock has been cancelled.

The Dolan Company is a leading provider of professional services and business information to the legal, financial, and real estate sectors. The Company’s Professional Services Division provides specialized outsourced services to the legal profession primarily through subsidiary Counsel Press. Counsel Press is the nation’s largest provider of appellate services to the legal community. The Company’s Business Information Division publishes business journals, court and commercial media, and other highly focused information products and services, operates web sites, and produces events for targeted legal and professional audiences in each of the 19 geographic markets that it serves across the United States.