January 5, 2019 / 1:22 AM / 4 months ago

Promise Healthcare and creditors slam U.S. bid to stay bankruptcy case

Promise Healthcare Group and its unsecured creditors said on Friday the nursing home and hospital chain’s plans for its Chapter 11 bankruptcy reorganization are being put at risk by the partial government shutdown.

Promise and its official committee of unsecured creditors in court papers called for an order rejecting a bid by the U.S. government to stay the company’s bankruptcy due to the shutdown, arguing the case needs to “move quickly in order to protect both the health and safety of patients and economic value, which go hand in hand.”

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