New Delaware Chapter 11 Filing – Hospital Acquisition LLC, et al. (LifeCare Health Partners)
Hospital Acquisition LLC, along with twenty-five affiliates and subsidiaries, has filed a petition for relief under chapter 11 in the Bankruptcy Code for the District of Delaware (Lead Case No. 19-10998). The Debtors, headquartered in Plano, TX, collectively operate seventeen long-term acute care facilities in nine states. The First Day Declaration explains that the Debtors enter chapter 11 having begun a prepetition marketing process and enter chapter 11 intending to sell substantially all of their assets under section 363 of the Bankruptcy Code, and anticipate selecting a stalking horse purchaser no later than July 15, 2019. Prime Clerk is the proposed claims and noticing agent. The cases have been assigned to the Honorable Brendan Linehan Shannon.
Contact Norman L. Pernick, G. David Dean or Myles R. MacDonald 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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