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A “community hospital” is generally located in a smaller town but can also include urban facilities that serve a market segment distinct from a major teaching hospital. A community hospital is generally not-for-profit and historically not affiliated with a larger system. Many community hospitals are in distress. The causes are varied but have a constant theme — the cost to adapt to a rapidly changing environment. Potential investors in distressed community hospitals will similarly need to be nimble in their due diligence.
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By Michael L. Cook
A bankruptcy court’s preliminary injunction was “not a final and immediately appealable order,” held the U.S. District Court for the District of Delaware in In re Alcor Energy, LLC.
By Rudolph J. Di Massa, Jr. and Keri L. Wintle
In January, a Southern District of New York U.S. Bankruptcy Chief Judge entered a decision granting summary judgment to a pro se debtor, finding that he debtor had satisfied the “undue hardship” standard set forth in Section 523(a)(8) of the Bankruptcy Code, and ordering the discharge of the student loan debt of more than $220,000.
By Theresa A. Driscoll
Voluntary Turnover or Face Contempt
Lessors who repossess property immediately prior to a lessee bankruptcy filing may be required to return such property or face sanctions by the bankruptcy court. Federal courts are currently split on the issue of whether the lessor must voluntary surrender property seized petition or may hold such property until such time as the debtor seeks, and obtains, an order of turnover.
By Carmen Contreras-Martinez
Landlords often have clues that a tenant is going to be filing for bankruptcy, rental payments are consistently late several months in a row and the tenant falls more than a month behind on the rent. But, it can still be shocking when a landlord receives a legal notice in the mail, instead of a rent check.