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The Bankruptcy StrategistLJN NewslettersNewsSections

Physician, Heal Thyself

By Adam C. Rogoff and Anupama Yerramalli
December 20, 2012

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. This article addresses some of these complexities.

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