Nursing home industry gets bankruptcy court approval for $7.1 million sale

0
By Leslie A. Pappas (April 7, 2022, 3:03 p.m. EDT) — Bankrupt retirement home chain American Eagle Delaware Holding Co. LLC won court approval Thursday to sell two underperforming facilities in Florida for $7 $.1 million, which puts her on track to repay a series of obligations and pave the way for her Chapter 11 confirmation later this month.

United States Bankruptcy Court Judge J. Kate Stickles of the District of Delaware approved the sale of the said Vista Lake assets to Illuminate HC LLC, an operator of qualified care facilities based in Evanston, Illinois , in a virtual hearing on Thursday after no one objected.

American Eagle sold the facilities in a “robust” virtual bankruptcy auction in March…

Stay one step ahead

In the legal profession, information is the key to success. You need to know what’s going on with customers, competitors, practice areas and industries. Law360 provides the intelligence you need to stay an expert and beat the competition.

  • Access to case data in articles (numbers, filings, courts, nature of lawsuits, etc.)
  • Access to attached documents such as briefs, motions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and more!

TRY LAW360 FREE FOR SEVEN DAYS

Share.

Comments are closed.