East Coast Hospital Files For Bankruptcy

Following a patient safety investigation of Saint Catherine Medical Center, owner Saint Catherine’s Hospital of Pennsylvania filed for Chapter 11 bankruptcy in April 2012, the Republican Herald reported. The PA state health department in March 2012 conducted a visit to the Ashland, PA healthcare facility and discovered patient safety violations, including a lack of needles, […]

Cellfor Insolvency

Cellfor, a privately held company headquartered in Vancouver, Canada that supplies conifer varietal seedlings to the forest industry, got a court order granting it protection under the Companies’ Creditors Arrangement Act. An order from Justice Harris of the Supreme Court of British Columbia grants a stay of proceedings against all actions and creditors until January […]

Chapter 11 Bankruptcy

Everyone hears about huge corporations filing Chapter 11 bankruptcy filings in news: • In 2012, Eastman Kodak Co. prepared for Chapter 11 bankruptcy. • In 2011, there were headlines on Chapter 11 for Borders Group Inc., the famous bookseller. People drove to Borders to study or coffee only to find their favorite stores shut down. […]

Who can be a Chapter 11 debtor?

Chapter 11 bankruptcy is used to reorganize a business because there are no limits on the debt. The Chapter 11 debtor proposes a plan to reorganize finances to keep a business afloat. Corporations, partnerships, limited liability companies, business trusts, unincorporated associations, and individuals who own businesses, such as landlords with several rental properties, are eligible […]