November 30, 2018 / 11:20 PM / 2 months ago

Unsecured creditors want auction for Promise Healthcare facility

Unsecured creditors of bankrupt hospital and nursing home chain Promise Healthcare Group Inc are asking the court to reject the planned private sale of one its properties for $15 million, saying an auction could raise more.

Promise’s official committee of unsecured creditors in a filing in U.S. Bankruptcy Court in Delaware on Thursday argued the private sale of the facility in San Diego will only benefit the company’s lenders and buyer, National Health Investors Inc.

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