Morehead Hospital Bankruptcy Hearing to Continue Monday
Morehead Hospital Bankruptcy Hearing to Continue Monday
Greensboro News & Record
November 8, 2017
As seen in this article, ” The Eden community is still waiting to learn the fate of Morehead Memorial Hospital after a judge recessed until Monday a bankruptcy hearing on the hospital’s sale. U.S. Bankruptcy Judge Benjamin Kahn adjourned Wednesday’s hearing in a packed courtroom to allow attorneys to review financial documents about the nonprofit hospital’s proposed sale to a for-profit Miami partnership for more than $11 million.”
Sills Cummis & Gross serves as counsel to the Official Committee of Unsecured Creditors of Morehead Memorial Hospital. “A finance company has guaranteed to lend the money to Empower if the hospital’s buildings appraise for their roughly $27 million tax value. Andrew Sherman, an attorney for the creditors in Morehead’s Chapter 11 case, asked how Empower could guarantee it would pay the $11.06 million it has offered if the appraisal falls short and the lender reduces its loan,” as seen later in the article.
