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

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…

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