September 05, 2024
Several healthcare companies, including ventilator maker Vyaire Medical Inc. and hospital operator Steward Health Care System, have filed for bankruptcy this year, citing issues like a post-pandemic revenue drop and ballooning expenses colliding with declining government reimbursements.
August 28, 2024
Bankrupt nursing home operator Petersen Health Care told a Delaware judge Wednesday that it wanted more time to work towards a resolution with creditors and the U.S. Trustee's Office on its proposed executive incentive bonuses.
August 22, 2024
Petersen Health Care creditors have asked a Delaware bankruptcy judge to reject the company's request to pay up to $1.3 million in bonuses to executives and other employees, saying it is too close to the end of the case for a bonus to have any business justification.
July 10, 2024
Petersen Health Care won a Delaware bankruptcy judge's approval on Wednesday to sell most of its nursing homes after selecting four bidders at an auction earlier this month, defeating or resolving objections to the deals from the U.S. Department of Housing and Urban Development and others.
July 08, 2024
The ex-Texas bankruptcy judge whose undisclosed romance with a former Jackson Walker LLP partner sparked an ethics scandal and efforts by the Office of the U.S. Trustee to recoup some $13 million in fees will be deposed; Rudy Giuliani can no longer practice law in New York and asked to convert his personal Chapter 11 bankruptcy to a Chapter 7; and the U.S. Supreme Court's monumental ruling in Purdue has opened questions about other high profile Chapter 11 plans and the authority of bankruptcy courts.
July 08, 2024
The federal government Monday filed an objection to Petersen Health Care's proposed facilities sale, saying the $136 million in bids received by the company is insufficient to cover the U.S. Department of Housing and Urban Development-backed mortgages on the properties.
July 03, 2024
Petersen Health Care told a Delaware bankruptcy court Wednesday it selected four successful bids, totaling roughly $135.8 million, for the company's skilled nursing facilities, including an offer worth $116.2 million from a stalking-horse bidder.
July 01, 2024
A Delaware bankruptcy judge on Monday gave bankrupt senior living chain Petersen Health Care permission to accept a $118 million bid as the floor for an auction of its 82 facilities to be held on Tuesday.
June 14, 2024
Nursing home operator Petersen Health Care's creditors urged the Delaware bankruptcy court to let them examine transactions between the debtor and related entities that aren't in its Chapter 11 case, including the purchase of a private plane and what they described as the use of company funds for an executive's personal expenses.
May 14, 2024
A Delaware bankruptcy judge Tuesday gave Petersen Health Care final permission to tap into $45 million in Chapter 11 financing after the senior living chain said it had settled almost all the objections to the proposal.