US Trustee Balks At 22% Rate On Petersen Health DIP Loan

By Alex Wittenberg · April 19, 2024, 5:14 PM EDT

The U.S. Trustee's Office objected Friday to senior living company Petersen Health Care's proposed bankruptcy financing, telling a Delaware judge that the combined 22% interest rate on the $45 million debtor-in-possession...

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Bankruptcy Scorecard

Summary

Assisted living facility operator Petersen Health Care Inc. and more than 100 affiliates filed for Chapter 11 protection citing rising costs after the COVID-19 pandemic, cyberattacks and a general shift away from nursing homes.

Case Number

24-bk-10563

Judge

Thomas M. Horan

Venue

U.S. Bankruptcy Court for the District of Delaware

Capital Structure

Total Liabilities:

$296 million

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Documents

Related Sections

Case Information

Case Title

SC Healthcare Holding, LLC

Case Number

1:24-bk-10443

Court

Delaware

Nature of Suit

Date Filed

March 20, 2024

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