Sizing up a major skilled-care bankruptcy: Prelude or a comeuppance?
When Senior Care Centers announced last week it would seek creditor protection, shockwaves quickly shot through the field. After all, this was no mom-and-pop operator.
Bankruptcy
Aria faces allegations of ‘gross self-dealing’ in Arkansas bankruptcy case
Aria Health Group and its owners participated in “gross self-dealing and corporate wrong” by transferring money from debtors it controlled to itself in the months before and after those companies filed for bankruptcy in 2016, a federal complaint alleges.
At least 9 lawsuits against SNFs on hold as a result of Orianna bankruptcy
A bankruptcy filing by Tennessee-based Orianna Health Systems has put at least nine wrongful death lawsuits against the company’s nursing homes on hold indefinitely.
Critics say Texas-based nursing home operator using bankruptcy to hide from dozens of lawsuits
Preferred Care of Plano filed for bankruptcy in November claiming in court that more than 160 lawsuits led to its financial demise.
Nearly three dozen Preferred Care Group facilities file for bankruptcy
Thirty-three Preferred Care Group-affiliated nursing homes filed for bankruptcy on Monday, citing costly ongoing negligence and personal injury litigation against the provider.
Former nursing home leaders still on the hook for $2.25 million following bankruptcy
On the heels of a Florida court decision that puts a nursing home unlikely to emerge unscathed from bankruptcy, a federal appeals court has ruled former officers and directors of a different nursing home are still liable for $2.25 million in compensatory damages.
Court: Residents’ ‘immediate jeopardy’ outweighs bankruptcy considerations, so provider license may be revoked after all
Florida’s Agency for Health Care Administration can continue to try to revoke a nursing home’s operating license, despite the facility declaring bankruptcy, a federal bankruptcy court has ruled.
Ask the legal expert … about loan defaults and negotiations
Our facility is encountering financial difficulties. What do we need to keep in mind about the legal implications of defaults under our loan documents and negotiating with our lender?
Former nursing home executive convicted of embezzlement agrees to $1.2 million settlement in bankruptcy court
A nursing home executive convicted of embezzling millions of dollars from publicly financed facilities has agreed to pay $1.2 million to the federal government to settle claims, through a deal worked out in U.S. Bankruptcy Court.
Re-invent communities
Every product or community goes through a life cycle that includes these stages: Development, Growth, Maturity, Saturation and Death. At Maturity, a product/community begins to become irrelevant, outdated and no longer competitive due to changing consumer demands.
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