Bankruptcy

Nashville Senior Care, LLC's Chapter 11 filing impacts bonds sold through conduit issuers in Florida, Ohio and Tennessee.

While acknowledging disputed allegations of mismanagement and infractions on the part of venue owner Legacy Cares, the judge denied a motion by the U.S. trustee in the Chapter 11 bankruptcy to appoint an independent trustee or dismiss the case.

Mercy Hospital plans to sell facilities and other assets to the University of Iowa, which approved $20 million for the acquisition.

American Advanced Management signed a letter of intent for a lease-to-buy agreement for Hazel Hawkins Memorial Hospital in Hollister.

Bondholders, other creditors, and the venue's owner argued the U.S. trustee's move would be detrimental for a plan to sell the facility to maximize recoveries.

Amid bankruptcy proceedings, the project's owner and bondholders agreed to a plan to re-issue most of the defaulted debt.

The FOMB needs to return to its "deal mindset" so that we can end the bankruptcy at PREPA. While gaps remain between the FOMB's and bondholders' affordability analyses, they are not insurmountable.

A federal bankruptcy judge will hold a hearing later this month on appointing an independent trustee for Legacy Cares or dismissing the case.

The board is offering $2.4 billion to all bondholders while $8.5 billion of par value is outstanding.

The plan of adjustment hearing scheduled for late July will be postponed.