New Delaware Chapter 11 Filing – HCR ManorCare, Inc.

HCR ManorCare, Inc., a national provider of short-term, post-hospital services and long-term care based in Toledo, Ohio, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 18-10467).  HCR’s Petition estimates both its assets and liabilities to be between $1–$10 billion.  According to the First Day Declaration, HCR enters Chapter 11 with a prepackaged plan of reorganization.  The prepackaged plan is supported by the only two impaired classes under the plan: Quality Care Properties, Inc., the owner and lessor of approximately 98% of the real property used by HCR, and HCR’s equity holders.  The Disclosure Statement can be found here.  HRC’s creditor matrix can be found here.  Epiq Bankruptcy Solutions is the proposed claims and noticing agent.  The case has been assigned to the Honorable Kevin Gross.

Contact Norman L. Pernick or Nicholas J. Brannick for more information regarding this matter.  Please note, however, that Cole Schotz P.C. does not represent the debtors in these cases and cannot respond to questions directed toward the debtors.

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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