SC Healthcare Holding, LLC

1:24-bk-10443

April 19, 2024
US Trustee Balks At 22% Rate On Petersen Health DIP Loan

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 loan is "above market."
March 22, 2024
Judge Signals OK For $15M DIP Loan To Petersen Health Care

During a break in a hearing Friday afternoon in Delaware bankruptcy court, senior-living company Petersen Health Care reached an interim deal with its debtor-in-possession lender and its prepetition lenders to let it access $15 million of its proposed $45 million DIP loan.
March 21, 2024
Nursing Home Woes, Cyberattack Sparked Petersen's Ch. 11

Rising costs after the COVID-19 pandemic, cyberattacks and a general shift away from nursing homes led senior-living company Petersen Health Care to seek Chapter 11 bankruptcy protection this week with about $296 million in debt, according to a declaration filed Thursday by the company's top restructuring official.
March 20, 2024
Petersen Health Care Files Ch. 11 Amid Suits Over HUD Loans

Assisted living facility operator Petersen Health Care Inc. and more than 100 affiliates filed for Chapter 11 protection Wednesday in Delaware as the company faces claims it has failed to pay millions of dollars in federal housing loans.