Healthcare Workouts & Reorganizations
Jackson Walker’s Bankruptcy, Restructuring, and Recovery attorneys have a proven track record of achieving clients’ goals and protecting their interests in the distressed healthcare industry. We represent all manner of healthcare entities, including hospitals, senior care facilities, insurance companies, medical service providers, and other healthcare industry participants seeking solutions when financially challenged.
Our attorneys are often called on to guide struggling healthcare companies through the reorganization process as debtors in Chapter 11 cases. We have significant experience helping buyers purchase healthcare assets for sale in bankruptcy proceedings. We also assist landlords with healthcare tenants to navigate the assumption or rejection of leases in bankruptcy, and represent doctors, vendors and other non-debtor creditor parties in healthcare entities’ bankruptcy proceedings to preserve and prosecute claims against the bankrupt entities.
Whether our client is a secured creditor, non-debtor contract party, or significant unsecured creditor, we have the legal experience and industry understand to protect their respective interests and claims in healthcare bankruptcy proceedings and out-of-court restructurings.
- Represented El Paso Children’s Hospital, a non-profit hospital in a highly contested Chapter 11 case, resulting in confirmation of a 100-cent on the dollar plan of reorganization in less than seven months, despite extensive and expedited litigation in the Western District of Texas.
- Represented multiple biopharmaceutical debtors in a Chapter 11 sale of all of the debtors’ assets, after which JW attorneys directly managed the liquidating trust, initiating multiple adversary proceedings relating to inter-carrier compensation and ad valorem taxes.
- Represented LifeCare Holdings, an operator of long-term acute care hospitals, in its Chapter 11 sale and structured dismissal in the District of Delaware.
Insurance Company Representation
- Genesis Physicians Practice Association in the Northern District of Texas
- Medical Select Management, Fort Worth’s largest independent practice association
Secured Creditor Representation
- Represented the senior secured lender in Chapter 11 cases of multiple Victory Medical Center hospital debtors in the Northern District of Texas.
- Represented bank creditor in the receivership and subsequent Chapter 11 proceedings of Cleveland Imaging, which resulted in the sale of the underlying note in the Southern District of Texas.
- Represented equipment lender for MRI Facility of Open Medical Systems bankruptcy cases in Texas.
- Represented bank lenders in the workout of River Oaks Imaging and Diagnostic, resulting in full payment to the banks.
- Represented senior secured lender in the Heart Place Hospital bankruptcy cases in Western District of Texas.
- Represented senior secured lender in the Chapter 11 case of The Tifaro Group, Ltd., the investment arm of Greater Houston Emergency Physicians, in the Southern District of Texas.
Asset Sale Representation
- Facilitated asset purchase of American Hospice’s New Jersey, Georgia and Oklahoma assets in a 363 sale in the District of Delaware.
Landlord & Contract Counter Parties Representation
- Represented landlords in home healthcare and pharmacy case of Horizon Home Care, Inc., et al.