Bankrupt Gulf Coast Health Care Reaches Deals With Creditors -- Market Talk
By Becky Yerak
Gulf Coast Health Care reached agreements with an unsecured
creditors group, a bondholder group and a federal bankruptcy
watchdog that were challenging the nursing facilities operator's
chapter 11 financing and plans to transfer management duties.
Terms of the proposed deals include not allowing its key
landlord, Omega Healthcare Investors, to immediately be allowed a
roughly $35M damages claim, and permitting bondholders and the
creditors committee to get a say on the damages claim.
Judge Karen Owens in the US Bankruptcy Court in Wilmington,
Del., gave tentative approval to the deals late Wednesday
afternoon, nearing the end of a multiday contested hearing.
Write to Becky Yerak at email@example.com
(END) Dow Jones Newswires
November 24, 2021 16:50 ET (21:50 GMT)
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