New Chapter 11 Filing – Philadelphia Academic Health System

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Philadelphia Academic Health System, LLC, owner of Hahnemann and St. Christopher’s hospitals in Philadelphia, Pennsylvania, filed a petition for relief under chapter 11 in the Bankruptcy Court for the District of Delaware, along with 13 of its affiliates (Lead Case No. 19-11467).  The filing comes days after Hahnemann announced  that it would immediately stop accepting trauma patients and intended to shut down in September.  The company reports $10 million to $50 million in assets and $100 million to $500 million in liabilities.  No first day declaration or first day motions have been filed.  The cases have been assigned to the Honorable Kevin Gross.

Contact Norman L. Pernick or G. David Dean for more information regarding this matter.

As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.

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