CarePoint Health Systems, Inc.

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Case overview

Case Number:

1:24-bk-12534

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

New Jersey Department of Health

Sectors & Industries:

February 18, 2025
Willkie DQ'd, Guo Clawbacks Continue

Franchise Group must find new bankruptcy counsel after a judge in Delaware found Willkie Farr & Gallagher LLP was conflicted in its case. The court-appointed trustee investigating Miles Guo's shell companies got another deadline extension to chase down estate funds. Spirit Airlines is awaiting confirmation of its reorganization plan. And bankrupt bitcoin miner Rhodium Encore has hit back at its landlord in court, alleging a campaign of sabotage.
February 12, 2025
CarePoint Gets Deal To Upsize Ch. 11 Financing By $32M

Hospital owner CarePoint Health Systems Inc. reached an agreement with lenders to increase its Chapter 11 financing by $31.7 million, counsel for the debtor told a judge Wednesday, bringing CarePoint's total borrowing in its bankruptcy case to roughly $63.8 million as the company works to secure confirmation of a plan to restructure its debt.
January 31, 2025
Under The Radar: Bankruptcy News You May Have Missed

Lenders for Tupperware said the company's Chapter 11 case does not need a committee to represent retired workers, the U.S. Trustee's Office opposed third-party releases in a pair of Chapter 11 cases and hardware retailer True Value wants more time to pursue its Chapter 11 plan.
January 23, 2025
CarePoint's Ch. 11 Docs OKd, But Confirmation Fight Looms

Bankrupt hospital owner CarePoint Health Systems Inc. received approval of its Chapter 11 plan disclosure statement Thursday after a Delaware bankruptcy judge heard about a string of modifications that resolved objections, but some issues still remain ahead of a March confirmation hearing.
January 21, 2025
Giuliani Settles Asset Turnover, FDIC Sues SVB Ex-CEO

Rudy Giuliani has turned over assets for a $148 million defamation judgment to former Georgia poll workers, following his absence at a recent trial. A Delaware bankruptcy judge criticized Dormify's founder for skipping a hearing on the retailer's Chapter 11 case. The FDIC sued Silicon Valley Bank's ex-CEO and other executives, alleging they mismanaged the company in the lead-up to its collapse in 2023. Meanwhile, a failed bidder for Alex Jones' Infowars increased its offer, as The Onion's parent company prepared a revised bid of its own.
January 17, 2025
NJ Hospital System's Ch. 11 Docs Need Work, Judge Says

A Delaware bankruptcy judge told a New Jersey-based hospital system Friday that its Chapter 11 plan disclosures lacked the necessary information for creditors to make an informed decision about the plan and encouraged the debtor to continue discussion to resolve outstanding objections.
January 15, 2025
NJ Hospital Chain Reorg Plan Nets Flurry Of Objections

The proposed disclosure statement and Chapter 11 plan of New Jersey hospital operator CarePoint Health Systems Inc. drew more than a half dozen objections, including from former owners, a prospective buyer, an insurance company and the U.S. Trustee's Office, with the debtor's reorganization proposal denounced as "skeletal" and "patently flawed."
January 07, 2025
NJ Hospital Chain Seeks $17M More In Ch. 11 Funding

New Jersey hospital operator CarePoint Health asked a Delaware bankruptcy judge Tuesday for permission to borrow an additional $17 million in Chapter 11 financing as the company finalizes a restructuring plan.
December 16, 2024
Judge Kills Infowars Sale, BigLaw Firms Duck Suit

A Texas court blocked an attempt from satirical news outlet The Onion to buy conspiracy theorist Alex Jones' radio show, and a racketeering suit against Jackson Walker LLP and Kirkland & Ellis LLP over allegations they profited from former bankruptcy Judge David R. Jones' romantic relationship with a member of the bankruptcy bar was dismissed.
December 10, 2024
US Trustee Seeks Oversight Of Hospital Chain's Ch. 11

The U.S. Trustee's Office has argued that bankrupt hospital operator CarePoint Health should be taken over by a Chapter 11 trustee, or it should be liquidated, due to gross mismanagement, including failing to remit more than $20 million withheld from employees' paychecks this year and concerns about a prepetition deal to sell one of its three hospitals.