A multi-debtor operating entity with over $1 billion of liabilities and thousands of employees and retirees is complicated enough; add to the mix: 1) one of New York City's historic hospitals, founded in 1849, which cared for survivors of the Titanic and later was a leader in confronting the AIDs crisis; 2) ongoing care for tens of thousands of patients throughout New York; and 3) preserving the non-profit, charitable mission of the city's last Catholic hospital, and you have the elements of a complex Chapter 11 case with nuances that are not part of the standard fare.
Physician, Heal Thyself
Saint Vincent Catholic Medical Centers of New York and its debtor-affiliates (collectively SVCMC) filed Chapter 11 cases in 2010 in the Southern District of New York. This article addresses some of the case's complexities.
By
Adam C. Rogoff And Anupama YerramalliThis premium content is locked for The Bankruptcy Strategist subscribers only
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